The issuing bank of the Letter of Reference must meet a minimum credit rating requirement, which requires the issuing bank to have a senior unsecured debt rating of “A” or better by S&P Global Ratings (“S&P”) if rated by S&P or “A2” or better by Moody’s Investors Service Inc. (“Moody’s”) if rated by Moody’s, or “A” or better by Fitch Ratings (“Fitch”) if rated by Fitch. Additionally, the Letter of Reference must be issued by a United States commercial bank or a foreign commercial bank with U.S. branches that are subject to the jurisdiction of New York federal or state courts.