Dec. 12, 2019 2019-XF0848 Maricopa County Industrial Development Authority, Ariz.'s (Banner Health) series 2019A revenue bonds 2019-XF0849 New York City Municipal Water Finance Authority's series 2020CC-1 second-generation-resolution water-and-sewer-system revenue bonds Royal Bank of Canada, acting through its New York branch FMSbonds Inc. RBC Capital Markets LLC S&P Global Ratings assigned the above-mentioned ratings to the floater and residual receipts (collectively the receipts), reflecting its opinion of the likelihood the trust 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 underlying securities and the liquidity facility, which is in place to support tender payments on the floaters. The long-term component
