S&P Global Ratings assigned its 'AAA' rating to Charlotte, N.C.'s $75 million series 2023 general obligation (GO) bonds. At the same time, we affirmed our 'AAA' GO rating and 'AA+' appropriation rating on the city's debt outstanding. Finally, we affirmed our 'AA+/A-1' dual rating on Charlotte's series 2003F and 2013G variable-rate certificates of participation (COPs). The long-term component of the rating reflects the city's appropriation-backed obligation, while the short-term component is based on the short-term ratings on the liquidity provider, which are Bank of America N.A. (series 2003F) and Wells Fargo Bank N.A. (series 2013G). The outlook is stable. The GO bonds are secured by the city's full-faith-and-credit pledge. Proceeds of the 2023 bonds will be used toward affordable housing
