S&P Global Ratings assigned its'AA'long-term rating to the New Mexico Finance Authority's $127.7 million series 2026B state transportation revenue bonds (state transportation commission--subordinate lien), issued for the New Mexico State Transportation Commission . The outlook is stable. After the payment of senior-lien bond debt service, the commission’s subordinate-lien transportation revenue bonds are secured by a second-lien pledge of various taxes and fees required to be paid into the state road fund (SRF), certain federal transportation revenue, and taxes and fees that must be deposited into the highway infrastructure fund (HIF). Pledged federal funds are revenue available to the New Mexico Department of Transportation (NMDOT) under federal law and are not otherwise obligated, which are paid into the
