...NEW YORK (S&P Global Ratings) July 14, 2016--S&P Global Ratings assigned its '###' rating and stable outlook to North Carolina's $200 million general obligation (GO) public improvement (Connect NC) bonds, series 2016B. At the same time, S&P Global Ratings affirmed its '###' rating on the state's GO debt outstanding and its '##+' rating on the state's appropriation debt outstanding. The outlook on both ratings is stable. The rating reflects our view of the following credit factors: + The state's diverse economic base that is expanding ahead of the nation following a sharp decline in the last recession; + A long history of prudent fiscal management--this includes making difficult budget decisions to restore fiscal balance when necessary, as well as managing surpluses when they occur, to retain structural budget balance; + A low-to-moderate debt burden with rapid amortization and state borrowing subject to debt-affordability guidelines, the latter of which we believe is an important credit...
