Standard&Poor's Ratings Services assigned its 'AAA/A-1+' rating to State Street Bank&Trust Co. Clipper Tax-Exempt Certificates' (CTECs) series 2014-3A related to New York State's series 2013C urban development corporation state personal income tax revenue general purpose bonds. The long-term component of the rating reflects the 'AAA' rated underlying bonds. The short-term component of the rating reflects the rating on State Street Bank&Trust until June 4, 2015. Standard&Poor's also assigned its 'AAA' rating to State Street Bank&Trust Co. Residual Certificates' series 2014-3A related to New York State's series 2013C urban development corporation state personal income tax revenue general purpose bonds. The rating reflects the 'AAA' rated underlying bonds. SEC Rule 17g-7 requires