Research Update: FMSbonds Inc. (Series 2026-CF7097) Assigned Ratings

May 28, 2026 2026-CF7097 Freddie Mac multifamily mortgage participation certificates, series WE6139 Citibank N.A. FMSbonds Inc. Morgan Stanley&Co. LLC Citibank N.A. Weekly S&P Global Ratings assigned its 'A+', 'A+/A-1' and 'A+' ratings to the custody, floater, and residual receipts (collectively the receipts), reflecting its opinion of the likelihood the trust, as custody receiptholder, will have sufficient assets to pay timely interest and full principal when due on the certificates. Trust assets include all distributions of principal; interest; and premiums, if any, from the custody receipts and liquidity facility, which is in place to support tender payments on floaters. The long-term rating on the custody receipts reflects the ratings on the credit-enhancement provider. The long-term component of our rating

...S&P Global Ratings assigned its 'A+', 'A+/A-1' and 'A+' ratings to the custody, floater, and residual receipts (collectively the receipts), reflecting its opinion of the likelihood the trust, as custody receiptholder, will have sufficient assets to pay timely interest and full principal when due on the certificates. Trust assets include all distributions of principal; interest; and premiums, if any, from the custody receipts and liquidity facility, which is in place to support tender payments on floaters. The long-term rating on the custody receipts reflects the ratings on the credit-enhancement provider. The long-term component of our rating on the floaters reflects the ratings on the custody receipts and addresses full and timely interest-and-principal payments when receiptholders have not exercised the put option. The short-term component reflects the lower of our rating on the liquidity provider or the short-term equivalent of our rating on the custody receipts. The short-term rating...

Research Update