State of North Carolina GO Rating Affirmed At ?AAA? On Release Of New Criteria; Outlook Is Stable

NEW YORK (S&P Global Ratings) Oct. 29, 2024--S&P Global Ratings affirmed its 'AAA' long-term rating on the State of North Carolina's general obligation (GO) bonds outstanding, based on the application of its "Methodology For Rating U.S. Governments," published Sept. 9, 2024. At the same time, S&P Global Ratings affirmed 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 ratings is stable. "We believe North Carolina's credit profile benefits from strong economic growth, state's ability to manage revenues to support expenditure mandates, well-defined financial management policies, and a commitment to maintaining balanced biennial budgets and preservation of very strong reserves," said S&P Global Ratings

...October 29, 2024 NEW YORK (S&P Global Ratings) Oct. 29, 2024--S&P Global Ratings affirmed its '###' long-term rating on the State of North Carolina's general obligation (GO) bonds outstanding, based on the application of its "Methodology For Rating U.S. Governments," published Sept. 9, 2024. At the same time, S&P Global Ratings affirmed 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 ratings is stable. "We believe North Carolina's credit profile benefits from strong economic growth, state's ability to manage revenues to support expenditure mandates, well-defined financial management policies, and a commitment to maintaining balanced biennial budgets and preservation of very strong reserves," said S&P Global Ratings credit analyst Joe Pezzimenti. The GO rating also reflects our view of the state's: - Historically strong economic growth trends supported by diverse employment...

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