April 23, 2020 2020-XM0843 Metropolitan Transportation Authority, N.Y.'s subseries 2015A-1 transportation revenue bonds (fixed rate) Bank of America N.A. Mesirow Financial Inc. BofA Securities Inc. Bank of America N.A. S&P Global Ratings assigned the above-mentioned ratings to the custody and floater receipts (collectively the receipts), reflecting its opinion of the likelihood the trust, as custody receipt holder, 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 jointly reflects, assuming low correlation, the ratings on the underlying securities
