Standard&Poor's Ratings Services assigned its 'AA+/A-1' and 'AA+' ratings to fmsbonds Inc.'s tender option bond series 2015-ZF-0242 and series 2015-ZF-0243 trust puttable floating-rate receipts (floaters) and inverse floating-rate receipts (residuals), respectively, relating to Los Angeles' series 2015A wastewater system revenue bonds (Green Bonds). The long-term components of the ratings on the floaters and residuals are based on the ratings on the underlying bonds. The short-term components of the ratings on the floaters are based on individual liquidity agreements from JPMorgan Chase Bank N.A. (A-1). The liquidity agreements provide for payment of the purchase price of tendered floaters by making a loan to the trust in an amount equaling the principal amounts and a maximum of 185 days' interest
