Nov. 29, 2018 2018-XF0719 Philadelphia, Pa.'s series 2018A water and wastewater revenue bonds Royal Bank of Canada, acting through its New York branch Royal Bank of Canada FMSbonds Inc. RBC Capital Markets LLC S&P Global Ratings assigned the above-mentioned ratings to the floater, residual, and custody-level trust receipts (collectively the receipts), reflecting its opinion of the likelihood the trust, as trust receipt holder, will have sufficient assets to pay timely interest and full principal when due on the floater and residual receipts. Trust assets include all distributions of principal; interest; and premiums, if any, from the trust receipt and the liquidity facility, which is in place to support tender payments on the floaters. The long-term rating on the trust receipts
