S&P Global Ratings assigned its 'AAA' rating to Charlotte, N.C.'s $60.675 million series 2024 general obligation (GO) refunding bonds. S&P Global Ratings also affirmed its 'AAA' rating on the city's GO debt outstanding and its 'AA+' rating on the city's appropriation debt outstanding. The outlook is stable. The city's GO bonds are secured by its full-faith-and-credit pledge. The 2024 bonds will be used to refund series 2014 bonds for net present value savings. For certificates of obligation, the city is obligated under the contract to transfer installment purchase payments, subject to budgeted appropriations, to the New Charlotte Corp. The corporation assigns all right, title, and interest in the installment purchase payments to the trustee for payment of debt service on
