May 5, 2025 2025-ZF3371 Metropolitan Transportation Authority, N.Y.'s series 2024B-1 dedicated tax-fund green bonds (climate bond certified) Morgan Stanley Bank N.A. FMSbonds Inc. Morgan Stanley&Co. LLC Weekly S&P Global Ratings assigned the above-mentioned ratings to the floater and residual certificates (collectively the certificates), reflecting its opinion of the likelihood the trust will have sufficient assets to pay timely interest and full principal when due on the certificates. Trust assets include all distributions of principal; interest; and premiums, if any, from the underlying securities and liquidity facility, which is in place to support tender payments on the floaters. The long-term component of our rating on the floaters reflects the ratings on the underlying securities and addresses full and timely
