...May 31, 2019 NEW YORK (S&P Global Ratings) May 31, 2019--S&P Global Ratings assigned its '##+' rating to North Carolina's series 2019A limited obligation (Build NC) bonds and affirmed its '###' rating on the state's general obligation (GO) bonds. "The Build NC rating is based on the application of our 'Issue Credit Ratings Linked To U.S. Public Finance Obligors' Creditworthiness' criteria," said S&P Global Ratings credit analyst Timothy Little. The criteria were published Jan. 22, 2018, on RatingsDirect. The series 2019A bonds are limited obligations of the state payable from funds available in the state Highway Trust Fund, separate and distinct from the state's general fund, subject to annual appropriation by the General Assembly. "The GO rating reflects our view of North Carolina's strong economic growth, history of prudent fiscal management, low-to-moderate debt burden, and well-funded pension system," said Mr. Little. Other factors include the state's well-funded pension system and...
