Summary: FMS Bonds Inc. (Series 2023-XF1589); Residual Certificates; Tender Option Certificates/Bonds - S&P Global Ratings’ Credit Research

Summary: FMS Bonds Inc. (Series 2023-XF1589); Residual Certificates; Tender Option Certificates/Bonds

Summary: FMS Bonds Inc. (Series 2023-XF1589); Residual Certificates; Tender Option Certificates/Bonds - S&P Global Ratings’ Credit Research
Summary: FMS Bonds Inc. (Series 2023-XF1589); Residual Certificates; Tender Option Certificates/Bonds
Published Aug 18, 2023
5 pages (1950 words) — Published Aug 18, 2023
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

August 18, 2023 2023-XF1589 The City of New York general obligation bonds, fiscal 2024 series A The Toronto-Dominion Bank, acting through its New York Branch FMSbonds, Inc. TD Securities (USA) LLC Weekly S&P Global Ratings assigned the above-mentioned ratings to the floater and residual receipts (collectively the receipts), reflecting its opinion of the likelihood the trust will have sufficient assets to pay timely interest and full principal when due on the receipts. Trust assets include all distributions of principal; interest; and premiums, if any, from the underlying securities and the liquidity facility, which is in place to support tender payments on the floaters. The long-term component of our rating on the floaters reflects the ratings on the underlying securities and

  
Brief Excerpt:

...S&P Global Ratings assigned the above-mentioned ratings to the floater and residual receipts (collectively the receipts), reflecting its opinion of the likelihood the trust will have sufficient assets to pay timely interest and full principal when due on the receipts. Trust assets include all distributions of principal; interest; and premiums, if any, from the underlying securities and the liquidity facility, which is in place to support tender payments on the floaters....

  
Report Type:

Summary

Issuer
New York City
Sector
Public Finance, Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Summary: FMS Bonds Inc. (Series 2023-XF1589); Residual Certificates; Tender Option Certificates/Bonds" Aug 18, 2023. Alacra Store. May 17, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-FMS-Bonds-Inc-Series-2023-XF1589-Residual-Certificates-Tender-Option-Certificates-Bonds-3043944>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: FMS Bonds Inc. (Series 2023-XF1589); Residual Certificates; Tender Option Certificates/Bonds Aug 18, 2023. New York, NY: Alacra Store. Retrieved May 17, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-FMS-Bonds-Inc-Series-2023-XF1589-Residual-Certificates-Tender-Option-Certificates-Bonds-3043944>
  
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