July 1, 2020 2015-XF2203 Massachusetts School Building Authority's series 2015C senior dedicated sales tax refunding bonds 2015-XF2204 Charleston, S.C.'s (South Carolina Waterworks&Sewer System) series 2015 capital improvement revenue bonds 2015-XF2205 University of Michigan Board of Regents' series 2015 revenue bonds 2016-XF2207 Massachusetts Development Finance Agency's (Partners Healthcare System) series 2016Q revenue bonds The Toronto-Dominion Bank, acting through its New York branch FMSbonds Inc. TD Securities (USA) LLC S&P Global Ratings raised the above-mentioned short-term ratings and affirmed the above-mentioned long-term 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 the trust will have sufficient assets to pay timely interest and