April 28, 2024 2025-CF7027 Freddie Mac's series WE6048 multifamily mortgage-participation certificates Citibank N.A. FMSbonds Inc. Morgan Stanley Bank, N.A. Citibank N.A. Weekly S&P Global Ratings assigned the above-mentioned ratings to the custody, floater, and residual receipts (collectively the receipts), reflecting its opinion of the likelihood the trust, as custody receiptholder, will have sufficient assets to pay timely interest and full principal when due on the receipts. Trust assets include all distributions of principal; interest; and premiums, if any, from the custody receipts and liquidity facility, which is in place to support tender payments on floaters. The long-term rating on the custody receipts reflects the rating on the credit-enhancement provider. The long-term component of our rating on the floaters reflects the
