...June 24, 2024 ENGLEWOOD (S&P Global Ratings) June 24, 2024--S&P Global Ratings assigned its '##+' long-term rating to the City and County of Honolulu's series 2024ABCD general obligation (GO) bonds, with a combined preliminary par amount of $170.2 million. At the same time, we affirmed our '##+' long-term rating on Honolulu's previously issued GO debt. The outlook is stable. Series 2024A and 2024B bond proceeds will finance various capital expenditures under the city's capital improvement plan. Series 2024C bonds are designated as Honolulu Rail Transit Project bonds, and their proceeds will support capital expenditures with the project. Series 2024C bond proceeds will constitute the city's nonreimbursable contribution to project costs. Series 2024D bond proceeds will finance capital costs at Honolulu's H-Power solid-waste-to-energy facility. "The '##+' long-term rating reflects our view of such factors as Honolulu's high per capita income and market values and significant tax base growth,...
