Standard&Poor's Ratings Services assigned its 'AAA' rating to Charlotte, N.C.'s series 2015A general obligation (GO) refunding bonds. At the same time, Standard&Poor's affirmed its 'AAA' and 'AA+' ratings on the city's GO and appropriation-backed debt, respectively. The outlook on all ratings is stable. The 'AAA' GO rating reflects our opinion of the city's: Strong economy, as the center of the broad and diverse Charlotte-Concord-Gastonia metropolitan statistical area (MSA); Very strong budgetary flexibility, with reserves exceeding 15% of expenditures; Strong budgetary performance in fiscal 2014, with at least balanced operations expected in fiscals 2015 and 2016; Very strong management, with detailed and well-embedded policies and practices that we consider strong; Very strong liquidity, with exceptional access to
