Standard&Poor's Ratings Services assigned its 'AA' rating, and stable outlook, to the New Mexico Finance Authority's (NMFA) subordinate-lien state transportation revenue bonds, issued for the New Mexico State Transportation Commission (formerly New Mexico State Highway Commission). Standard&Poor's also affirmed its 'AA' underlying rating on NMFA's parity subordinate-lien bonds outstanding. At the same time, Standard&Poor's affirmed its 'AAA' rating, with a stable outlook, on NMFA's senior-lien state transportation revenue bonds outstanding issued for the commission. The ratings reflect what we view as: A long and stable trend in pledged state revenues, including nearly all statewide vehicular-related fees and fuel taxes; Very strong historical and projected debt service coverage, particularly for the senior bonds, which offsets
