OREANDA-NEWS. Fitch Ratings has assigned the following ratings to the Taxable Floater Notes and Taxable Residual Certificates of the Taxable Tender Option Bond Trust series listed below:

--Taxable Floater Notes Series 2016-TXG001 'AA/F1'/Stable Outlook;

--Taxable Residual Certificates Series 2016-TXG001 'AA'/Stable Outlook.

KEY RATING DRIVERS

The long-term 'AA'/Stable Outlook ratings assigned to the series 2016-TXG001 Taxable Floater Notes and Taxable Residual Certificates are based on the rating that Fitch has assigned to State of Oregon Department of Administrative Services certificates of participation, 2010 series B (Build America Bonds-Federally Taxable) (rated 'AA'/Stable Outlook) that have been deposited in the 2016-TXG001 trust.

The short-term 'F1' rating assigned to the Taxable Floater Notes are based on the liquidity facility provided by Bank of America, National Association (rated 'A+/F1'/Stable Outlook), which have a stated expiration date of July 15, 2017, unless such date is extended or earlier terminated.

RATING SENSITIVITIES

The short-term rating assigned to the Taxable Floater Notes will be adjusted upward or downward in conjunction with the short-term rating of the bank. The long-term ratings assigned to the Taxable Floater Notes and Taxable Residual Certificates are exclusively tied to the creditworthiness of the underlying bonds deposited in the trust and will reflect all changes to such rating.