...S&P Global Ratings assigned its '##+' long-term rating to Charlotte, N.C.'s series 2019C certificates of participation (COPs). The outlook is stable. The rating on Charlotte's COPs reflects our view of the city's general credit strengths and its covenant to annually appropriate installment payments to cover annual debt service. The city will use the proceeds of the 2019C certificates to refinance for savings its installment payment obligations corresponding to the 2009C certificates maturing on June 1, 2039. The rating reflects our view of the city's: + Very strong economy, with access to a broad and diverse metropolitan statistical area (MSA); + Very strong management, with strong financial policies and practices under our Financial Management Assessment (FMA) methodology; + Adequate budgetary performance, with an operating surplus in the general fund but an operating deficit at the total governmental fund level in fiscal 2018; + Very strong budgetary flexibility, with an available fund...
