Summary: Rib Floater Trust State of Connecticut; Joint Criteria

S&P Global Ratings raised its ratings on RIB Floater Trust's series 2017-FR/RI-014 tender-option bond trust puttable floating-rate receipt (floater) and custodial receipts, related to State of Connecticut general obligation (GO) bonds series 2017 C, to 'AA+/A-1' and 'AA+' from 'AA/A-1' and 'AA', respectively. This upgrade follows S&P Global Ratings' upgrade on the underlying bond. (For further information, see "Connecticut GO Debt Rating Raised To 'A+' From 'A' On Moderating Debt Burden" published May 14, 2021, on Ratings Direct.) The long-term rating on the custodial receipt jointly reflects, assuming low correlation, the rating on the underlying securities and the credit-enhancement provider. The long-term component of the rating on the floaters reflects the ratings on the custodial receipt and addresses full and

...S&P Global Ratings raised its ratings on RIB Floater Trust's series 2017-FR/RI-014 tender-option bond trust puttable floating-rate receipt (floater) and custodial receipts, related to State of Connecticut general obligation (GO) bonds series 2017 C, to '##+/A-1' and '##+' from '##/A-1' and '##', respectively. This upgrade follows S&P Global Ratings' upgrade on the underlying bond. (For further information, see "Connecticut GO Debt Rating Raised To 'A+' From 'A' On Moderating Debt Burden" published May 14, 2021, on Ratings Direct.) The long-term rating on the custodial receipt jointly reflects, assuming low correlation, the rating on the underlying securities and the credit-enhancement provider. The long-term component of the rating on the floaters reflects the ratings on the custodial receipt and addresses full and timely interest-and-principal payments when receipt holders have not exercised the put option. The short-term component of rating on the floaters reflects the lower of the rating...

Summary