May 14, 2025 2025-ZL0630 New York City Municipal Water Finance Authority water and sewer system second general resolution revenue bonds, fiscal 2025 series BB Morgan Stanley Bank N.A. Loop Capital Markets LLC 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
