Summary: Mizuho Capital Markets LLC; Custodial Receipts

S&P Global Ratings assigned its 'AA+' rating to Mizuho Capital Markets LLC series 2024-FRA-1-FRA-4 and 2024-FRTA-1-FRTA-2 custody receipts based on the standby credit enhancement provided by Freddie Mac. Mizuho Capital Markets LLC is both the sponsor and depositor. Each series of custody receipts will evidence a beneficial ownership interest by the respective custody receiptholder of the related series of underlying assets, which, depending on the particular series of custody receipts, are either bonds or notes delivered to the custodian, including the right to receive all principal-and-interest payments with respect to underlying assets. In addition, series 2024-FRA and 2024-FRTA certificateholders have a beneficial interest in the amounts available under the standby credit enhancement provided by Freddie Mac, which is the basis

...S&P Global Ratings assigned its '##+' rating to Mizuho Capital Markets LLC series 2024-FRA-1-FRA-4 and 2024-FRTA-1-FRTA-2 custody receipts based on the standby credit enhancement provided by Freddie Mac. Mizuho Capital Markets LLC is both the sponsor and depositor. Each series of custody receipts will evidence a beneficial ownership interest by the respective custody receiptholder of the related series of underlying assets, which, depending on the particular series of custody receipts, are either bonds or notes delivered to the custodian, including the right to receive all principal-and-interest payments with respect to underlying assets. In addition, series 2024-FRA and 2024-FRTA certificateholders have a beneficial interest in the amounts available under the standby credit enhancement provided by Freddie Mac, which is the basis for the custody receipts rating. The series 2024-FRA and 2024-FRTA designation will depend on the tax-related underlying assets' status. The series 2024-FRA custody...

Summary