Summary: RIB Floater Trust (Series 2017-FR/RI-014 And 2017-FR/RI-016); Joint Criteria

2017-FR/RI-014 Connecticut's series 2017C general obligation (GO) bonds 2017-FR/RI-016 Connecticut's series 2017C GO bonds Barclays Bank PLC Barclays Bank PLC Barclays Capital Inc. RIB Floater Trust S&P Global Ratings assigned the above-mentioned ratings to the floater and custodial receipts (collectively the receipts), reflecting S&P Global Ratings' opinion of the likelihood the trust will have sufficient assets to pay timely interest and full principal when due on the receipts. Trust assets include all distributions of principal and interest from the underlying securities and the liquidity facility, which is in place to support tender payments on the floaters. The long-term rating on the custodial receipts jointly reflects, assuming a low level of correlation, the rating on the underlying securities and the credit-enhancement

...S&P Global Ratings assigned the above-mentioned ratings to the floater and custodial receipts (collectively the receipts), reflecting S&P Global Ratings' opinion of the likelihood the trust will have sufficient assets to pay timely interest and full principal when due on the receipts. Trust assets include all distributions of principal and interest from the underlying securities and the liquidity facility, which is in place to support tender payments on the floaters. The long-term rating on the custodial receipts jointly reflects, assuming a low level of correlation, the rating on the underlying securities and the credit-enhancement provider. The long-term component of our rating on the floaters reflects the ratings on the custodials. The long-term ratings address full and timely interest and principal payments when receipt holders have not exercised the put option. The short-term component on the floaters reflects the lower of the rating on the liquidity provider and the short-term equivalent...

Summary