RBC Municipal Products LLC (Muni. Deriv.) -- Moody's reviews amendments for RBC Municipal Products Inc. Floater Certificates, Series E-38 and Series E-48

New York, December 17, 2015 -- Moody's Investors Service, at the request of RBC Municipal Products, LLC, has reviewed the proposed amendments dated as of December 17, 2015 (the Amendments) to the Series Trust Agreements relating to Floater Certificates, Series E-38 and Series E-48. The Amendments, which extends the Designated Termination Date, will not have an adverse effect on the credit quality of the certificates and therefore will not, in and of itself and as of this time, result in reduction or withdrawal of Moody's rating. Moody's does not express an opinion as to whether the amendment could have other, non credit-related effects.

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