June 14, 2018 2018-ZM0653 North Carolina Housing Finance Agency's series 39-B (nonalternative-minimum tax) homeownership revenue bonds 2018-ZM0654 Tennessee Housing Development Agency's issue 2018-2 residential-finance-program bonds 2018-ZM0664 North Carolina Housing Finance Agency's series 39-B (nonalternative-minimum tax) homeownership revenue bonds Royal Bank of Canada, acting through its New York branch Mesirow Financial Inc. RBC Capital Markets LLC S&P Global Ratings assigned the above-mentioned ratings to the floater and residual receipts (collectively the receipts), reflecting S&P Global Ratings' 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
