September 14, 2022 2022-XG0403 City of Charlotte, North Carolina Water and Sewer System Revenue Bonds, Series 2022A Wells Fargo Bank N.A. Stifel, Nicolaus&Company, Incorporated Wells Fargo Bank N.A. 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 underlying securities and addresses full
