S&P Global Ratings assigned its 'AA+' long-term rating to Charleston Public Facilities Corp., S.C.'s $47.9 million series 2023 installment purchase revenue bonds (IPRBs), issued for the City of Charleston, S.C. At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating on Charleston's general obligation (GO) debt outstanding and its 'AA+' long-term rating on Charleston Public Facilities Corp.'s IPRBs outstanding, issued for the city. The outlook is stable. Securing the corporation's IPRBs are installment purchase payments (or acquisition payments) from Charleston to cover annual debt service on the bonds, which are subject to annual appropriation by city council. In addition, the city has agreed to provide for the necessary insurance, taxes, and maintenance on the facilities. We believe debt service
