ENGLEWOOD (S&P Global Ratings) May 21, 2026--S&P Global Ratings raised its short-term ratings and affirmed its long-term ratings on 14 Loop Capital Markets LLC tender-option bond trusts, following the replacement of the liquidity provider from Morgan Stanley Bank N.A. to Royal Bank of Canada acting through its New York branch on May 21, 2026, the amendment date. Issue description Series New rating Previous rating CUSIP Underlying CUSIP(s) Liquidity provider Loop Capital Markets LLC (Massachusetts) Residual Ser 2022-ZL0339 re Commonwealth of MA GO Bnds Cons Loan, Ser 2022C 2022ZL0339 AA+ AA+ 88035DT47 57582RY34 Loop Capital Markets LLC (Massachusetts) Floater Ser 2022-ZL0339 re Commonwealth of MA GO Bnds Cons Loan, Ser 2022C 2022ZL0339 AA+/A-1+ AA+/A-1 88035DT39 57582RY34 Royal Bank of Canada acting