Oct 27, 2026 2026-XM1407 California Community Choice Financing Authority clean energy project revenue bonds, series 2025C (term rate) JPMorgan Chase Bank N.A. Mesirow Financial Inc. J.P. Morgan Securities LLC J.P. Morgan Securities LLC Daily S&P Global Ratings assigned its'AA(sf) Watch Neg','AA/A-1+(sf) Watch Neg', and'AA(sf) Watch Neg'ratings to the custody, floater, and residual receipts (collectively the receipts), reflecting its opinion of the likelihood the trust, as custody receiptholder, 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 the floaters. The long-term rating
