Oct. 16, 2023 2023-ZL0475 San Antonio, Texas' series 2023A electric-and-gas-systems revenue refunding bonds Royal Bank of Canada, a Canadian-chartered bank, acting through its New York branch Loop Capital Markets LLC\ RBC Capital Markets LLC. Weekly 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 of our rating on the floaters reflects the ratings on the
