S&P Global Ratings has assigned its 'AAA' long-term rating to Charlotte, N.C.'s series 2024 storm water fee revenue refunding bonds. At the same time, we affirmed our 'AAA' long-term rating on the city's previously issued storm water fee revenue bonds. The outlook is stable. The bonds are secured by a net revenue pledge of the storm water facilities. We understand that bond proceeds will refund the city's outstanding 2022 bond anticipation note, and the series 2014 bonds. Estimated debt after this issue is about $300 million for the stormwater system. The city continues to levy a monthly storm water fee of between $6.56 and $23.65 based on square footage of impervious surface per single-family detached residence. The second tier ($9.68
