Summary: FMSbonds Inc. (Series 2021-XFT1253); Tender Option Certificates/Bonds

Oct. 14, 2021 2021-XFT1253 Metropolitan Transportation Authority, N.Y.'s series 2021A-2 transportation revenue bonds JPMorgan Chase Bank N.A. FMSbonds Inc. JPMorgan Securities LLC S&P Global Ratings assigned the above-mentioned ratings to the taxable floater notes, reflecting its opinion of the likelihood the trust will have sufficient assets to pay timely interest and full principal when due on the notes. 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 notes. The long-term component of our rating on the notes reflects our long-term rating on the underlying securities and addresses full and timely interest-and-principal payments when noteholders have not exercised the put

...S&P Global Ratings assigned the above-mentioned ratings to the taxable floater notes, reflecting its opinion of the likelihood the trust will have sufficient assets to pay timely interest and full principal when due on the notes. 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 notes. The long-term component of our rating on the notes reflects our long-term rating on the underlying securities and addresses full and timely interest-and-principal payments when noteholders have not exercised the put option. The short-term component reflects our short-term rating on the liquidity provider. The short-term rating addresses full and timely interest-and-principal payments when noteholders exercise the put option. Our ratings do not reflect our opinion of the likelihood noteholders will receive the full and timely payment of...

Summary