...S&P Global Ratings assigned its '##+/A-1+' and '##+' ratings to George K. Baum & Co.'s tender-option bond series 2016-XG0107 trust puttable floating-rate receipts (floaters) and inverse floating-rate receipts (residuals), respectively, related to Pennsylvania Housing Finance Agency's series 2016-121 single-family mortgage revenue bonds (nonalternative-minimum tax). The long-term component of the rating on the floaters and the rating on the residuals reflect the ratings 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, George K. Baum & Co. is the trustor and administrative agent. 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...
