Summary: Mesirow Financial Inc. (Series 2016-XM0408 And 2016-XM0409); Residual Certificates; Tender Option Certificates/Bonds

S&P Global Ratings assigned its 'AA+/A-1' and 'AA+' ratings to Mesirow Financial Inc.'s tender-option bond series 2016-XM0408 and 2016-XM0409 trusts puttable floating-rate receipts (floaters) and inverse floating-rate receipts (residuals), respectively, related to Ascension Health Alliance, Mo.'s series 2010F-6 and 2010F-7 refunding and project revenue bonds. The long-term components of the ratings on the floaters and the ratings on the residuals reflect the ratings on the underlying bonds. The short-term components of the ratings, which only apply to the floaters, reflect the liquidity agreement from Morgan Stanley Bank N.A. This trust is issued under the common-document initiative using net liquidity. For this transaction, Mesirow Financial is the trust administrator and Municipal Funding Services LLC is the trustor. Morgan Stanley Bank is

...S&P Global Ratings assigned its '##+/A-1' and '##+' ratings to Mesirow Financial Inc.'s tender-option bond series 2016-XM0408 and 2016-XM0409 trusts puttable floating-rate receipts (floaters) and inverse floating-rate receipts (residuals), respectively, related to Ascension Health Alliance, Mo.'s series 2010F-6 and 2010F-7 refunding and project revenue bonds. The long-term components of the ratings on the floaters and the ratings on the residuals reflect the ratings on the underlying bonds. The short-term components of the ratings, which only apply to the floaters, reflect the liquidity agreement from Morgan Stanley Bank N.A. This trust is issued under the common-document initiative using net liquidity. For this transaction, Mesirow Financial is the trust administrator and Municipal Funding Services LLC is the trustor. Morgan Stanley Bank is the liquidity provider. The seller will sell and deliver the underlying bonds to the trustee, which will be held in the trust by the trustee. The trust...

Summary