OREANDA-NEWS. Fitch Ratings assigns the following ratings to the Puttable Floating Rate Receipts (Floater Receipts) and Inverse Floating Rate Receipts (Residual Receipts) of the Tender Option Bond Trust series listed below:

--Floater Receipts series 2015-XF0078 'AA-/F1'; Stable Outlook;
--Residual Receipts series 2015-XF0078 'AA-'; Stable Outlook;
--Floater Receipts series 2015-XF0079 'AA/F1'; Stable Outlook;
--Residual Receipts series 2015-XF0079 'AA'; Stable Outlook;
--Floater Receipts series 2015-XF0082 'AA/F1'; Stable Outlook;
--Residual Receipts series 2015-XF0082 'AA'; Stable Outlook.

KEY RATING DRIVERS

The long-term 'AA-'; Stable Outlook ratings assigned to the series 2015-XF0078 Floater Receipts and series 2015-XF0078 Residual Receipts are based on the ratings that Fitch has assigned to California Health Facilities Financing Authority Revenue Bonds (Sutter Health) series 2007A and California Statewide Communities Development Authority Revenue Bonds (Sutter Health) series 2008B (both rated 'AA-'; Stable Outlook) that have been deposited in the series 2015-XF0078 trust.

The long-term 'AA'; Stable Outlook ratings assigned to the series 2015-XF0079 Floater Receipts and series 2015-XF0079 Residual Receipts are based on the ratings that Fitch has assigned to Community Development Administration, Maryland Department of Housing and Community Development Residential Revenue Bonds, 2006 series B, F, I, L, D and H (rated 'AA'; Stable Outlook) that have been deposited in the series 2015-XF0079 trust.

The long-term 'AA'; Stable Outlook ratings assigned to the series 2015-XF0082 Floater Receipts and series 2015-XF0082 Residual Receipts are based on the ratings that Fitch has assigned to Washington Health Care Facilities Authority Refunding Revenue Bonds series 2015B (Seattle Children's Hospital) (rated 'AA'; Stable Outlook) that have been deposited in the series 2015-XF0082 trust.

The short-term 'F1' rating assigned to all the Floater Receipts is based on the liquidity facilities provided by JPMorgan Chase Bank, N.A. (rated 'A+/F1'; Stable Outlook). The 'F1' rating assigned to the Floater Receipts will expire on Jan. 15, 2016, the expiration date of the liquidity facility, unless such date is extended or earlier terminated.

RATING SENSITIVITIES

The short-term rating assigned to the Floater Receipts reflects the short-term rating that Fitch maintains on the bank providing liquidity support and will be adjusted upward or downward in conjunction with the short-term rating of the bank, and, in some cases, the long-term rating of the underlying bonds deposited in the trust. The long-term ratings assigned to the Floater Receipts and Residual Receipts are exclusively tied to the creditworthiness of the underlying bonds deposited in the trust and will reflect all changes to that rating.