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CUSIP® and SECURITIES DATAMANAGER Data
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The Website at emma.msrb.org displays ratings for municipal securities currently assigned by Fitch Ratings, Kroll Bond Rating Agency, Inc., Moody's (as defined below) and
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Kroll Bond Rating Agency, Inc.
2021, Kroll Bond Rating Agency, Inc., and/or its licensors and affiliates (together, "KBRA"). All rights reserved.
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Moody's Corporation Disclaimer
Moody's Corporation, Moody's Investors Service, Inc., Moody's Analytics, Inc. and/or their licensors and affiliates (collectively, "MOODY'S"). All rights
CREDIT RATINGS ISSUED BY MOODY'S INVESTORS SERVICE, INC. AND ITS RATINGS AFFILIATES ("MIS") ARE MOODY'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT
COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND CREDIT RATINGS AND RESEARCH PUBLICATIONS PUBLISHED BY MOODY'S ("MOODY'S PUBLICATIONS") MAY INCLUDE MOODY'S CURRENT OPINIONS OF THE
RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. MOODY'S DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL,
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INCLUDE QUANTITATIVE MODEL-BASED ESTIMATES OF CREDIT RISK AND RELATED OPINIONS OR COMMENTARY PUBLISHED BY MOODY'S ANALYTICS, INC. CREDIT RATINGS AND MOODY'S PUBLICATIONS DO NOT CONSTITUTE
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Moody's Investors Service, Inc., a wholly-owned credit rating agency subsidiary of Moody's Corporation ("MCO"), hereby discloses that most issuers of debt securities
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agreed to pay to Moody's Investors Service, Inc. for appraisal and rating services rendered by it fees ranging from $1,500 to approximately $2,500,000. MCO and MIS also maintain policies
and procedures to address the independence of MIS's ratings and rating processes. Information regarding certain affiliations that may exist between directors of MCO and rated entities,
and between entities who hold ratings from MIS and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually at www.moodys.com under the heading
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Additional terms for Australia only: Any publication into Australia of MOODY'S credit ratings and MOODY'S publications is pursuant to the Australian Financial Services License of MOODY'S
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available to retail investors. It would be reckless and inappropriate for retail investors to use MOODY'S credit ratings or publications when making an investment decision.
If in doubt you should contact your financial or other professional adviser.
Additional terms for Japan only: Moody's Japan K.K. ("MJKK") is a wholly-owned credit rating agency subsidiary of Moody's Group Japan G.K., which is wholly-owned by Moody's Overseas Holdings
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Organization ("NRSRO"). Therefore, credit ratings assigned by MSFJ are Non-NRSRO Credit Ratings. Non-NRSRO Credit Ratings are assigned by an entity that is not a NRSRO and, consequently,
the rated obligation will not qualify for certain types of treatment under U.S. laws. MJKK and MSFJ are credit rating agencies registered with the Japan Financial Services Agency and
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MJKK or MSFJ (as applicable) hereby disclose that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated
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MJKK and MSFJ also maintain policies and procedures to address Japanese regulatory requirements.
Standard and Poor's Financial Services LLC Disclaimer
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Yield Curves, Indices and Similar Data
The Website displays on emma.msrb.org certain yield curves, indices and similar data (collectively, "Market Indicator Data") based on the MSRB's agreements with third party providers pursuant to which the MSRB may make them available to the public through the Website. Market Indicator Data are provided without representations or warranties and on an "as is" basis. The MSRB does not review or independently verify the accuracy, completeness, timeliness, methodology used in or other aspects of Market Indicator Data. Market Indicator Data are for general informational purposes only, and are not intended to provide, and do not constitute, investment, pricing, business or other advice.
BVAL® AAA Municipal Curve
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