Summary: Tender Option Bond Series 2015-XF0259 Issued By FMSbonds Inc. New York City Municipal Water Finance Authority; 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 series 2015-XF0259 trust puttable floating-rate certificates (floaters) and inverse floating-rate certificates (residuals), respectively, relating to New York City Municipal Water Finance Authority's fiscal 2016 series BB, subseries BB-1 water and sewer system second general resolution revenue bonds. The long-term component of the rating on the floaters and the rating on the residuals reflect the rating on the underlying bonds (CUSIP#: 64972GJV7). The short-term component of the rating on the floaters reflects a liquidity agreement from State Street Bank and Trust Co. (A-1+). This trust is issued under the common document initiative using net liquidity. For this transaction, FMSbonds Inc. is the trustor and

...Standard & Poor's Ratings Services assigned its '##+/A-1+' and '##+' ratings to FMSbonds Inc.'s tender option bond series 2015-XF0259 trust puttable floating-rate certificates (floaters) and inverse floating-rate certificates (residuals), respectively, relating to New York City Municipal Water Finance Authority's fiscal 2016 series ##, subseries ##-1 water and sewer system second general resolution revenue bonds. The long-term component of the rating on the floaters and the rating on the residuals reflect the rating on the underlying bonds (CUSIP#: 64972GJV7). The short-term component of the rating on the floaters reflects a liquidity agreement from State Street Bank and Trust Co. (A-1+). This trust is issued under the common document initiative using net liquidity. For this transaction, FMSbonds Inc. is the trustor and trust administrator, and State Street Bank and Trust Co. is the liquidity provider. For this trust, FMSbonds Inc. deposited the underlying bonds into an individual trust...

Summary