SAN FRANCISCO (S&P Global Ratings) June 23, 2021--S&P Global Ratings assigned its 'AA' rating to the New Mexico Finance Authority's pro forma $234.6 million state transportation refunding revenue bonds (state transportation commission subordinate lien), series 2021A, issued for the New Mexico State Transportation Commission. At the same time, we affirmed our 'AA+' rating on the senior-lien transportation revenue bonds as well as our 'AA' rating on the outstanding subordinate-lien revenue bonds. The outlook on both the senior-lien and subordinate lien-revenue bonds is stable. The 2021A bonds are being issued to fund roadway improvements throughout the state, and post-issuance the New Mexico Department of Transportation (NMDOT) will have approximately $998 million in total par outstanding with 58% of the total principal to
