S&P Global Ratings assigned its 'AA+' rating to the state?s appropriation-backed $300 million series 2025A limited obligated (Build NC) bonds. At the same time, we affirmed our 'AAA' long-term rating on the State of North Carolina's general obligation (GO) bonds outstanding. We also affirmed our 'AA+' rating on the state's appropriation-backed obligations outstanding, which include other Build NC bonds and those issued by the North Carolina Turnpike Authority. The outlook on all ratings is stable. NEW YORK (S&P Global Ratings) April 7, 2025—S&P Global Ratings today took the rating actions listed above. We view North Carolina's environmental, social, and governance factors as having no material influence on our credit rating analysis. We view North Carolina's social factors as being in
