Summary: FMSbonds Inc. (Series 2025-ZF1926) Floater, Residual Receipts; Residual Certificates; Tender Option Certificates/Bonds - S&P Global Ratings’ Credit Research

Summary: FMSbonds Inc. (Series 2025-ZF1926) Floater, Residual Receipts; Residual Certificates; Tender Option Certificates/Bonds

Summary: FMSbonds Inc. (Series 2025-ZF1926) Floater, Residual Receipts; Residual Certificates; Tender Option Certificates/Bonds - S&P Global Ratings’ Credit Research
Summary: FMSbonds Inc. (Series 2025-ZF1926) Floater, Residual Receipts; Residual Certificates; Tender Option Certificates/Bonds
Published May 21, 2025
5 pages (1942 words) — Published May 21, 2025
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

May 20, 2025 2025-ZF1926 City Houston Texas Airport System Subordinate Lien Revenue and Refunding Bonds, Series 2023A (AMT) JPMorgan Chase Bank, N.A. FMSbonds, Inc. J.P. Morgan Securities 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 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 addresses full and timely

  
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...

  
Report Type:

Summary

Ticker
HOUFAC
Issuer
Houston
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Summary: FMSbonds Inc. (Series 2025-ZF1926) Floater, Residual Receipts; Residual Certificates; Tender Option Certificates/Bonds" May 21, 2025. Alacra Store. Nov 06, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Summary-FMSbonds-Inc-Series-2025-ZF1926-Floater-Residual-Receipts-Residual-Certificates-Tender-Option-Certificates-Bonds-3373959>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: FMSbonds Inc. (Series 2025-ZF1926) Floater, Residual Receipts; Residual Certificates; Tender Option Certificates/Bonds May 21, 2025. New York, NY: Alacra Store. Retrieved Nov 06, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-FMSbonds-Inc-Series-2025-ZF1926-Floater-Residual-Receipts-Residual-Certificates-Tender-Option-Certificates-Bonds-3373959>
  
US$ 225.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.