S&P Global Ratings assigned its 'AAA' long-term rating to the City of Albuquerque, N.M.'s proposed $19.3 million series 2023A general obligation (GO) general purpose 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. The bonds are secured by the city's full faith and credit pledge and are payable from unlimited ad valorem property taxes levied on all taxable property in the city. Bond proceeds will fund various capital projects. Albuquerque is the primary economic hub for the State of New Mexico and includes about one-third of the state's population. Although wealth and income levels are below those of similarly rated peers, the city's importance to the
