S&P Global Ratings assigned its 'AA+' long-term rating to Fayetteville , N.C.'s $40 million series 2026 general obligation (GO) public improvement bonds. We also affirmed our 'AA+' rating on the city?s unlimited GO debt and our 'AA' rating on Fayetteville?s previously issues appropriation-backed debt. The outlook is stable. Fayetteville's full faith and credit pledge and agreement to levy ad valorem property taxes without limitation as to rate or amount secure the series 2026 issue and the city's GO debt outstanding. Series 2026 bond proceeds will be used to finance public safety and public infrastructure projects. City payments to the trustee, subject to appropriation and pursuant to the trust agreement, secure Fayetteville's limited obligation bonds (LOBs). We rate the city's installment
