Summary: FMSbonds Inc. (Series 2016-XF); Joint Criteria - S&P Global Ratings’ Credit Research

Summary: FMSbonds Inc. (Series 2016-XF); Joint Criteria

Summary: FMSbonds Inc. (Series 2016-XF); Joint Criteria - S&P Global Ratings’ Credit Research
Summary: FMSbonds Inc. (Series 2016-XF); Joint Criteria
Published Jul 21, 2016
6 pages (2468 words) — Published Jul 21, 2016
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings assigned its 'AA-/A-2', 'AA-', and 'AA-' ratings to FMSbonds Inc.'s tender-option bond series 2016-XF1055 and 2016-XF1057 trusts floater certificates (floaters), residual certificates (residuals), and custodial receipts (custodials) respectively, related to various underlying bonds. Specifically, we assigned our 'AA-/A-2', 'AA-', and 'AA-' ratings to FMSbonds Inc.'s series 2016-XF1055 floaters, residuals, and custodials respectively, relating to Lee Memorial Health System, Fla.'s 2007 series A hospital revenue bonds. In addition, we assigned our 'AA-/A-2', 'AA-', and 'AA-' ratings to FMSbonds Inc.'s series 2016-XF1057 floaters, residuals, and custodials respectively, relating to the New Jersey Turnpike Authority's series 2013 A turnpike revenue bonds. The ratings on the custodials reflect the joint support (assuming a low correlation level) provided by the rating on

  
Brief Excerpt:

...S&P Global Ratings assigned its '##-/A-2', '##-', and '##-' ratings to FMSbonds Inc.'s tender-option bond series 2016-XF1055 and 2016-XF1057 trusts floater certificates (floaters), residual certificates (residuals), and custodial receipts (custodials) respectively, related to various underlying bonds. Specifically, we assigned our '##-/A-2', '##-', and '##-' ratings to FMSbonds Inc.'s series 2016-XF1055 floaters, residuals, and custodials respectively, relating to Lee Memorial Health System, Fla.'s 2007 series A hospital revenue bonds. In addition, we assigned our '##-/A-2', '##-', and '##-' ratings to FMSbonds Inc.'s series 2016-XF1057 floaters, residuals, and custodials respectively, relating to the New Jersey Turnpike Authority's series 2013 A turnpike revenue bonds. The ratings on the custodials reflect the joint support (assuming a low correlation level) provided by the rating on the underlying bonds and the credit enhancement provided by Deutsche Bank AG, acting through its New York...

  
Report Type:

Summary

Issuer
Lee Memorial Health System
Sector
Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Summary: FMSbonds Inc. (Series 2016-XF); Joint Criteria" Jul 21, 2016. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-FMSbonds-Inc-Series-2016-XF-Joint-Criteria-1679430>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: FMSbonds Inc. (Series 2016-XF); Joint Criteria Jul 21, 2016. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-FMSbonds-Inc-Series-2016-XF-Joint-Criteria-1679430>
  
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