S&P Global Ratings assigned its 'A+' long-term rating to the Charleston Housing Authority's (CHA), S.C. series 2024 general revenue bonds (the Reserve at Westcott). The outlook is stable. The series 2024 general revenue bonds will be special obligations of the authority, payable solely from net operating income of the project, from the general revenues of the authority, and any other funds available under the trust estate as outlined in transaction documents. General revenues are defined in transaction documents as revenues of CHA generally, to the extent revenues are not pledged or restricted solely to another particular purpose. Despite the fact that the authority has not undertaken to identify the portion of its total revenues that constitute general revenues, and bonds
