...DALLAS (S&P Global Ratings) May 9, 2017--S&P Global Ratings has assigned its '###' rating to the New Mexico Finance Authority's (NMFA) series 2017C senior-lien public project revolving fund (PPRF) revenue bonds. We also have affirmed our '###' rating on the authority's outstanding senior-lien bonds and our '##+' rating on its outstanding subordinate-lien bonds. The outlook remains stable on the senior-lien bonds. We have revised the outlook on the subordinate-lien bonds to positive from stable. "The outlook revision reflects the intent of the NMFA board to establish an indentured subordinate-lien reserve fund using funds from the contingent liquidity account," said S&P Global Ratings credit analyst James Breeding. The '###' rating on the senior-lien bonds reflects our view of the combination of a very strong enterprise risk profile score and an extremely strong financial risk profile score, resulting from: + A very strong market position; + An extremely strong loss coverage score (LCS),...
