North Carolina's Series 2020 GO Public Improvement Bonds Rated 'AAA'; Other Ratings Affirmed

HARTFORD (S&P Global Ratings) Sept. 25, 2020--S&P Global Ratings assigned its 'AAA' long-term rating to the State of North Carolina's $400 million series 2020A general obligation (GO) public improvement (Connect NC) bonds. At the same time, S&P Global Ratings affirmed its 'AAA' rating on the state's existing GO bonds and its 'AA+' rating on the state's appropriation-backed obligations, which include Build NC bonds and those issued by the North Carolina Turnpike Authority. The outlook on all of the ratings is stable. The series 2020A GO bonds are secured by a pledge of the state's faith and credit and taxing power. The bonds are the fourth issuance of North Carolina's $2 billion voter-approved Connect NC GO bonds, which were authorized in

...September 25, 2020 HARTFORD (S&P Global Ratings) Sept. 25, 2020--S&P Global Ratings assigned its '###' long-term rating to the State of North Carolina's $400 million series 2020A general obligation (GO) public improvement (Connect NC) bonds. At the same time, S&P Global Ratings affirmed its '###' rating on the state's existing GO bonds and its '##+' rating on the state's appropriation-backed obligations, which include Build NC bonds and those issued by the North Carolina Turnpike Authority. The outlook on all of the ratings is stable. The series 2020A GO bonds are secured by a pledge of the state's faith and credit and taxing power. The bonds are the fourth issuance of North Carolina's $2 billion voter-approved Connect NC GO bonds, which were authorized in March 2016 for capital projects throughout the state. Within the authorization, the primary projects (66.5%) are for the University of North Carolina ($980 million) and community colleges ($350 million). S&P Global Ratings believes North...

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