Summary: Mesirow Financial Inc. (Series 2016-ZM0410); 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-ZM0410 trust puttable floating-rate receipts (floaters) and inverse floating-rate receipts (residuals), respectively, related to Port Authority of New York&New Jersey's series 198 consolidated bonds. The long-term component of the ratings on the floaters and the rating on the residuals reflect the rating on the underlying bonds. The short-term component of the ratings, which only applies to the floaters, reflects the liquidity agreement from JPMorgan Chase Bank N.A. This trust is issued under the common-document initiative using gross liquidity. For these transactions, Mesirow Financial Inc. is the administrative agent and Municipal Funding LLC is the trustor. The seller will sell and deliver the

...S&P Global Ratings assigned its '##-/A-1' and '##-' ratings to Mesirow Financial Inc.'s tender-option bond series 2016-ZM0410 trust puttable floating-rate receipts (floaters) and inverse floating-rate receipts (residuals), respectively, related to Port Authority of New York & New Jersey's series 198 consolidated bonds. The long-term component of the ratings on the floaters and the rating on the residuals reflect the rating on the underlying bonds. The short-term component of the ratings, which only applies to the floaters, reflects the liquidity agreement from JPMorgan Chase Bank N.A. This trust is issued under the common-document initiative using gross liquidity. For these transactions, Mesirow Financial Inc. is the administrative agent and Municipal Funding LLC is the trustor. 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 date is Nov. 17, 2016....

Summary