July 23, 2020 2018-XF2555 New York City Transitional Finance Authority Building Aid Revenue Bonds, Fiscal 2018 Subseries S-4A Tax-Exempt Bonds 2018-XF2556 New York State Urban Development Corporation State Personal Income Tax Revenue Bonds (General Purpose), Series 2017C 2018-XF2557 Texas Water Development Board State Water Implementation Revenue Fund for Texas Revenue Bonds, Series 2017A (Master Trust) Morgan Stanley Bank, N.A. FMSbonds Inc Morgan Stanley&Co. LLC S&P Global Ratings affirmed the above-mentioned ratings on the floater and 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