S&P Global Ratings assigned its 'AAA' long-term rating to the City of Albuquerque, N.M.'s series 2020 A, B, and D general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating on the city's existing GO bonds. The outlook is stable. A pledge of unlimited ad valorem property taxes levied on all taxable property in Albuquerque secures the bonds. The series 2020 A bonds will finance certain city projects related to public safety, public transportation, and other public facilities, the series 2020 B bonds will finance storm improvements, and the series 2020 D bonds will refund existing debt for interest cost savings. The city is also issuing series 2020 C bonds--not rated--that will be privately
