Summary: George K. Baum&Co. (Series 2016-XG); Residual Certificates; Tender Option Certificates/Bonds

S&P Global Ratings assigned four various ratings to two George K. Baum&Co. tender option bond series 2016-XG trust puttable floating-rate receipts (floaters) and inverse floating-rate receipts (residuals), respectively, relating to various underlying bonds. Specifically, we assigned our 'AA/A-1' and 'AA' ratings to George K. Baum&Co.'s series 2016-XG0002 floaters and residuals, respectively, relating to South Miami Health Facilities Authority's series 2007 hospital revenue bonds; and our 'AA/A-1' and 'AA' ratings to George K. Baum&Co.'s series 2016-XG0001 floaters and residuals, respectively, relating to the New Jersey Higher Education Student Assistant Authority's 2009 series A student loan revenue bonds. The long-term component of the ratings on the floaters and the ratings on the residuals for each series

...S&P Global Ratings assigned four various ratings to two George K. Baum & Co. tender option bond series 2016-XG trust puttable floating-rate receipts (floaters) and inverse floating-rate receipts (residuals), respectively, relating to various underlying bonds. Specifically, we assigned our '##/A-1' and '##' ratings to George K. Baum & Co.'s series 2016-XG0002 floaters and residuals, respectively, relating to South Miami Health Facilities Authority's series 2007 hospital revenue bonds; and our '##/A-1' and '##' ratings to George K. Baum & Co.'s series 2016-XG0001 floaters and residuals, respectively, relating to the New Jersey Higher Education Student Assistant Authority's 2009 series A student loan revenue bonds. The long-term component of the ratings on the floaters and the ratings on the residuals for each series reflect the ratings on the underlying bonds. The short-term component of the ratings on the floaters is based on a liquidity agreement from Bank of America N.A. (A-1). The receipts...

Summary