S&P Global Ratings assigned its 'AA+' long-term rating to the City and County of Honolulu's series 2023ABCD general obligation (GO) bonds, with a combined preliminary par amount of $257.1 million. The outlook is stable. The rating reflects our view of Honolulu's robust local economy that continues to recover from the effects of the pandemic, its strong and stable financial position, supportive financial management conditions, and elevated debt and retirement liabilities. Honolulu's full faith and credit, including its ability to levy ad valorem property taxes without limitation as to rate or amount, secures the 2023 GO bonds. Series 2023A and 2023B proceeds will finance various capital expenditures under the city's capital improvement plan. Series 2023C and 2023D bonds are designated as
