Company: SRV
Filing Date: 2025-04-10
Form Type: N-2
Source: 0001398344-25-006954
Chunk: 84

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-04-10
Form: N-2
Chunk 84
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. municipal short-term demand debt, note rating symbols are used with the short-term issue credit rating symbols (for example,
‘SP-1+/A-1+’).

The ratings and other credit
related opinions of S&P and its affiliates are statements of opinion as of the date they are expressed and not statements of fact
or recommendations to purchase, hold, or sell any securities or make any investment decisions. S&P assumes no obligation to update
any information following publication. Users of ratings and credit related opinions should not rely on them in making any investment decision.
S&P’s opinions and analyses do not address the suitability of any security. S&P’s Financial Services LLC does not
act as a fiduciary or an investment advisor. While S&P has obtained information from sources it believes to be reliable, S&P does
not perform an audit and undertakes no duty of due diligence or independent verification of any information it receives. Ratings and credit
related opinions may be changed, suspended, or withdrawn at any time.

<div align='center'>A-3</div>

Active Qualifiers (Currently
Applied and/or Outstanding)

iThis suffix is used
for issues in which the credit factors, terms, or both, that determine the likelihood of receipt of payment of interest are different
from the credit factors, terms or both that determine the likelihood of receipt of principal on the obligation. The ‘i’ suffix
indicates that the rating addresses the interest portion of the obligation only. The ‘i’ suffix will always be used in conjunction
with the ‘p’ suffix, which addresses likelihood of receipt of principal. For example, a rated obligation could be assigned
ratings of “AAAp NRi” indicating that the principal portion is rated “AAA” and the interest portion of the obligation
is not rated.

L Ratings qualified with
‘L’ apply only to amounts invested up to federal deposit insurance limits.

p This suffix is used
for issues in which the credit factors, the terms, or both, that determine the likelihood of receipt of payment of principal are different
from the credit factors, terms or both that determine the likelihood of receipt of interest on the obligation. The ‘p’ suffix
indicates that the rating addresses the principal portion of the obligation only. The ‘p’ suffix will always be used in conjunction
with the ‘i’ suffix, which addresses likelihood of receipt of interest. For example, a rated obligation could be assigned
ratings of “AAAp NRi” indicating that the principal portion is rated