...S&P Global Ratings assigned its '###/A-1+' and '###' ratings to FMSbonds Inc.'s tender-option bond series 2016-XF0529 trust, puttable floating-rate receipts (floaters) and inverse floating-rate receipts (residuals), respectively, related to the Dormitory Authority of the State of New York's series 2016A state sales tax revenue bonds. The long-term components of the ratings on the floaters and the ratings on the residuals reflects the ratings on the underlying bonds. The short-term components of the ratings, which only applies to the floaters, reflects the liquidity support from The Toronto-Dominion Bank, acting through its New York Branch. This trust is issued under the common-document initiative using gross liquidity. For these transactions, FMSbonds Inc. is both the trustor and trust administrator. The seller will sell and deliver the underlying bonds to the trustee, which will be held in the trust by the trustee. The trust issued the floaters and residuals on the sale date, Dec. 5, 2016....
