July 22, 2026 Direct-pay letter of credit (LOC) Bank of America N.A. U.S. Bank Trust Co. N.A. *S&P Global Ratings' commercial paper (CP) note rating linked to its rating on the LOC provider. S&P Global Ratings assigned its 'A-1' short-term rating to City of Charlotte , North Carolina's special obligation CP notes, series 2026. The rating on the CP notes reflects the irrevocable direct-pay LOC provided by Bank of America N.A. The issuer can issue up to an aggregate principal amount of $150 million of special obligation CP notes with a maturity up to 270 days. The aggregate CP note amount cannot exceed the LOC's stated amount and amounts due upon note maturity, funded in full, with amounts available under
