FARMERS BRANCH (S&P Global Ratings) April 30, 2021--S&P Global Ratings has revised its outlook on the State of New Mexico to stable from negative and affirmed its 'AA' rating on the state's general obligation (GO) debt. At the same time, we revised our outlook on New Mexico State Transportation Commission's senior-lien transportation revenue bonds to stable from negative. We also assigned our 'AA' rating to New Mexico's series 2021 GO capital projects bonds. "The revision in the outlook to stable reflects our view that despite the continued uncertainty of the pace of the economic recovery following a dual shock--oil price rout and public health crisis—New Mexico's overall credit conditions have proven resilient. While we anticipate the state's outsized exposure to
