Summary: Tender Option Bond Series 2014-XF-0002 And 2014-XF-0010 Issued By fmsbonds Inc. Port Authority of New York&New Jersey; Residual Certificates; Tender Option Certificates/Bonds

Standard&Poor's Ratings Services assigned its 'AA-/A-1' and 'AA-' ratings to fmsbonds Inc.'s tender option bond (TOB) series 2014-XF-0002 trust puttable floating-rate receipts (floaters) and inverse floating-rate receipts (residuals), respectively, relating to Port Authority of New York and New Jersey's consolidated bonds, 152nd series (CUSIP#: 73358T2S9). At the same time, Standard&Poor's assigned its 'AA-/A-1' and 'AA-' ratings to fmsbonds Inc.'s TOB series 2014-XF-0010 trust floaters and residuals, respectively, relating to Port Authority of New York and New Jersey's consolidated bonds, 151st series, third installment (CUSIP#: 73358TV40). The long-term component of the ratings on the floaters and residuals is based on the rating on the underlying bonds. The short-term component of the rating on the floaters is based

...Standard & Poor's Ratings Services assigned its '##-/A-1' and '##-' ratings to fmsbonds Inc.'s tender option bond (TOB) series 2014-XF-0002 trust puttable floating-rate receipts (floaters) and inverse floating-rate receipts (residuals), respectively, relating to Port Authority of New York and New Jersey's consolidated bonds, 152nd series (CUSIP#: 73358T2S9). At the same time, Standard & Poor's assigned its '##-/A-1' and '##-' ratings to fmsbonds Inc.'s TOB series 2014-XF-0010 trust floaters and residuals, respectively, relating to Port Authority of New York and New Jersey's consolidated bonds, 151st series, third installment (CUSIP#: 73358TV40). The long-term component of the ratings on the floaters and residuals is based on the rating on the underlying bonds. The short-term component of the rating on the floaters is based on a liquidity agreement provided by JPMorgan Chase Bank N.A. (A-1). The respective liquidity agreements provide for payment of the purchase price of tendered floaters...

Summary