Summary: Charlotte, North Carolina; Appropriations; General Obligation

S&P Global Ratings assigned its 'AAA' rating to Charlotte, N.C.'s $210.21 million series 2023B general obligation (GO) refunding bonds. S&P Global Ratings also affirmed its 'AAA' rating on the city's GO debt outstanding. At the same time, we assigned our 'AA+' appropriation rating to the city's $85.585 million series 2023B certificates of participation (COPs) and affirmed our 'AA+' rating on the city's appropriation debt outstanding. Finally, we affirmed our 'AA+/A-1' dual rating on Charlotte's series 2003F and 2013G variable-rate 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).

...Most recent Historical information 2022 2021 2020 Direct debt 10-year amortization (%) 52.7 Required pension contribution % of governmental fund expenditures 6.1 OPEB actual contribution % of governmental fund expenditures 1.2 Very strong institutional framework Data points and ratios may reflect analytical adjustments. EBI--Effective buying income. OPEB--Other postemployment benefits....

Summary