S&P Global Ratings assigned its 'AAA' rating to North Carolina's series 2017A general obligation (GO) refunding bonds and its 'AA+' rating to the state's series 2017B limited obligation refunding bonds. At the same time, we affirmed our 'AAA' rating on the state's GO debt outstanding and our 'AA+' rating on its appropriation debt outstanding, as well as our 'AA' rating on the North Carolina Turnpike Authority (NCTA) departmental appropriation bonds. The outlook on all the ratings is stable. The GO rating reflects our view of the following credit factors, including North Carolina's: Diverse economic base that is expanding ahead of the nation; Long history of prudent fiscal management--this includes making difficult budget decisions to restore fiscal balance when necessary, as
