July 23, 2020 2018-XM0616 The Port Authority of New York and New Jersey Consolidated Bonds, Two Hundred Seventh Series Barclays Bank PLC Barclays Capital Inc. Barclays Capital Inc. S&P Global Ratings affirmed the above-mentioned ratings on the floater receipts and withdrew the above-mentioned ratings on the residual receipts (collectively the receipts), following the replacement of the liquidity provider. The ratings reflect S&P Global Ratings' opinion of the likelihood that the trust will have sufficient assets to pay timely interest and full principal when due on the floater receipts. Trust assets include all distributions of principal; interest; and premiums, if any, from the underlying securities and the liquidity facility, which is in place to support tender payments on the floaters. The
