Tender Option Bond Trust (RBC Liquidity), Puttable Floating Rate Receipts, Series 2016-XM0304 – Moody’s reviewing amendment for Tender Option Bond Trust (RBC Liquidity), Puttable Floating Rate Receipts, Series 2016-XM0297 and Series 2016-XM0304

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Announcement: Moody’s Reviews Amendment for Tender Option Bond Trust (RBC Liquidity), Puttable Floating Rate Receipts, Series 2016-XM0297 and Series 2016-XM0304Global Credit Research – December 22, 2021 New York, December 22, 2021 – Moody’s Investors Service, (” Moody’s “) has reviewed the proposed amendment dated December 23, 2021 (the Amendment) to the Series of Trust Agreement relating to the Stock Bond Trust (RBC Liquidity), variable rate receipts redeemable , the 2016-XM0297 and 2016-XM0304 series. The amendment, which extends the designated termination date, will not have a negative effect on the credit quality of the certificates and therefore will not, in and of itself and from that moment on, result in a reduction or withdrawal of the Moody’s rating. Moody’s does not express an opinion as to whether the amendment could have other non-credit effects. This post does not advertise any credit rating action. For all credit ratings referenced in this publication, please see the Ratings tab on the Issuer / Entity page at www.moodys.com for the most recent information on credit ratings and rating history. Randy Matlosz Analyst Public Finance Group Moody’s Investors Service, Inc. 250 Greenwich Street New York, NY 10007 USA JOURNALISTS: 1 212 553 0376 Customer Service: 1 212 553 1653 Joann Hempel VP – Senior Credit Officer Public Finance Group JOURNALISTS: 1 212 553 0376 Customer Service: 1 212 553 1653 Office of Release: Moody’s Investors Service, Inc. 250 Greenwich Street New York, NY 10007 USA JOURNALISTS: 1 212 553 0376 Customer Service: 1 212 553 1653 © 2021 Moody’s Corporation, Moody’s Investors Service, Inc. , Moody’s Analytics, Inc. and / or their licensors and affiliates (collectively, “MOODY’S”). All rights reserved. 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