S&P Global Ratings assigned its 'AA+' long-term rating to Charlotte , N.C.'s $126.2 million series 2025 taxable certificates of participation (COPs; government facilities). At the same time, we affirmed our 'AAA' long-term rating on the city's general obligation debt outstanding and our 'AA+' long-term rating on the city's appropriation debt outstanding. The outlook is stable. The rating is based on the application of our " Methodology For Rating U.S. Governments ," Sept. 9, 2024, on RatingsDirect. Installment purchase payments to the New Charlotte Corp., subject to budgeted appropriations, secure the 2025 COPs. The corporation assigns all right, title, and interest in the installment purchase payments to the trustee for payment of debt service on the certificates. Based on the application
