S&P Global Ratings raised its long-term rating components for various tender-option bond trust issues related to various underlying bonds. This rating action follows S&P Global Ratings' action on the underlying bonds. S&P Global Ratings raised its ratings on the underlying bonds on March 1, 2018. (Please see the media release, titled "Contra Costa Community College District, CA GO Rating Raised To 'AA+' On Continued Economic And Tax Base Growth," published March 1, 2018, on RatingsDirect.) The long-term component of the rating on the floaters and the rating on the residuals reflect the rating on their respective underlying securities, as well as our expectation of the likelihood of bondholders receiving interest and principal payments when due if they do not exercise
