FMSbonds Inc. Series 2015-XF2190 Bond Ratings Reinstated

Stocks and Financial Services Press Releases Wednesday October 18, 2017 09:00
NEW YORK--18 Oct--S&P Global Ratings

NEW YORK (S&P Global Ratings) Oct. 17, 2017--S&P Global Ratings corrected by reinstating its 'AA/A-1' and 'AA' ratings on FMSbonds Inc.'s series 2015-XF2190 tender option bond, trust puttable floating-rate receipts (floaters) and inverse floating-rate receipts (residuals), respectively, related to Kansas Development Finance Authority's hospital revenue bonds (Issue of 2009D).

The long-term components of the ratings on the floaters and the ratings on the residuals reflect the ratings on the underlying bonds, as well as our expectation of the likelihood of bondholders receiving interest and principal payments when due if they do not exercise their put option.

The short-term components of the ratings reflect the lower of our ratings on the respective liquidity providers and the correlated short-term rating of the long-term rating on the underlying security. The short-term rating reflects our opinion of the likelihood of bondholders receiving interest and principal payments if they exercise their put option.

Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at www.standardandpoors.com for further information. Complete ratings information is available to subscribers of RatingsDirect at www.capitaliq.com. All ratings affected by this rating action can be found on the S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.


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