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Rating Action: Moody's withdraws short-term rating of VRDP shares issued by Nuveen municipal closed-end fundGlobal Credit Research - 08 Feb 2021New York, February 08, 2021 -- Moody's Investors Service, ("Moody's") has withdrawn the P-1 short-term rating of the Series 2 Variable Rate Demand Preferred (VRDP) shares issued by Nuveen California Quality Municipal Income Fund (Fund), a closed-end fund managed by Nuveen Fund Advisors, LLC, as investment advisor, and Nuveen Asset Management, LLC as sub-advisor.The rating withdrawal follows the Fund's designation of a Special Rate Period for the Series 2 VRDP shares effective 8 February 2021. Upon the effective date, the Fund will terminate the purchase obligation, and Citibank, N.A. will cease to act as Liquidity Provider for the Series 2 VRPD shares.The long-term rating of the Series 2 VRDP shares, which remains at Aa2, is unaffected.Rating Action Summary- Nuveen California Quality Municipal Income Fund (NAC), 910 @ $100,000 liquidation value per share for $91.0 million Series 2 Variable Rate Demand Preferred shares, mandatory redemption 12/1/2040: Withdrawn P-1RATINGS RATIONALEThe withdrawn P-1 short-term rating was based on the terms of the VRDP shares Purchase Agreement, which previously supported VRDP holders' ability to tender their shares with an unconditional commitment from Citibank, N.A., to purchase unsuccessfully remarketed Series 2 VRDP shares as the Liquidity Provider.With the designation of the Special Rate Period for the Series 2 VRDP shares, beneficial owners and holders will not have the benefit of an unconditional demand feature.Moody's has decided to withdraw the rating for its own business reasons. Please refer to the Moody's Investors Service Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com.REGULATORY DISCLOSURESFor any affected securities or rated entities receiving direct credit support from the primary entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action, the associated regulatory disclosures will be those of the guarantor entity. Exceptions to this approach exist for the following disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from rated entity.The rating has been disclosed to the rated entity or its designated agent (s) and issued with no amendment resulting from that disclosure.This rating is solicited. Please refer to Moody's Policy for Designating and Assigning Unsolicited Credit Ratings available on its website www.moodys.com.Regulatory disclosures contained in this press release apply to the credit rating and, if applicable, the related rating outlook or rating review.Moody's general principles for assessing environmental, social and governance (ESG) risks in our credit analysis can be found at https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1243406.The Global Scale Credit Rating on this Credit Rating Announcement was issued by one of Moody's affiliates outside the EU and is endorsed by Moody's Deutschland GmbH, An der Welle 5, Frankfurt am Main 60322, Germany, in accordance with Art.4 paragraph 3 of the Regulation (EC) No 1060/2009 on Credit Rating Agencies. Further information on the EU endorsement status and on the Moody's office that issued the credit rating is available on www.moodys.com.The Global Scale Credit Rating on this Credit Rating Announcement was issued by one of Moody's affiliates outside the UK and is endorsed by Moody's Investors Service Limited, One Canada Square, Canary Wharf, London E14 5FA under the law applicable to credit rating agencies in the UK. Further information on the UK endorsement status and on the Moody's office that issued the credit rating is available on www.moodys.com.Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody's legal entity that has issued the rating.Please see the ratings tab on the issuer/entity page on www.moodys.com for additional regulatory disclosures for each credit rating. Stefan Kahandaliyanage, CFA Asst Vice President - Analyst Financial Institutions Group Moody's Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. 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