Summary: FMSbonds Inc. (Series 2016-ZF0460); Residual Certificates; Tender Option Certificates/Bonds

S&P Global Ratings assigned its 'AA/A-1+' and 'AA' ratings to FMSbonds Inc.'s tender-option bond series 2016-ZF0460 trust puttable floating-rate receipts (floaters) and inverse floating-rate receipts (residuals), respectively, related to New York City's fiscal 2016 series E general obligation (GO) bonds. The long-term component of the rating on the floaters and residuals reflects the rating on the underlying bonds. The short-term component of the rating, which only applies to the floaters, reflects the liquidity agreement from State Street Bank&Trust Co. This trust is issued under the common document initiative using gross liquidity. For these transactions, FMSbonds is both the trustor and trust administrator. The seller will sell and deliver the underlying bonds to the trustee, which will be held

...S&P Global Ratings assigned its '##/A-1+' and '##' ratings to FMSbonds Inc.'s tender-option bond series 2016-ZF0460 trust puttable floating-rate receipts (floaters) and inverse floating-rate receipts (residuals), respectively, related to New York City's fiscal 2016 series E general obligation (GO) bonds. The long-term component of the rating on the floaters and residuals reflects the rating on the underlying bonds. The short-term component of the rating, which only applies to the floaters, reflects the liquidity agreement from State Street Bank & Trust Co. This trust is issued under the common document initiative using gross liquidity. For these transactions, FMSbonds 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 will issue the floaters and residuals on the sale date. The sale date is June 9, 2016. The seller has entered into a sale agreement with the trustee on...

Summary