Standard&Poor's Ratings Services raised its long-term rating to 'AAA' from 'AA+' on New Mexico Finance Authority's (NMFA) $988.3 million parity senior-lien state transportation revenue bonds outstanding, issued for the New Mexico State Transportation Commission (formerly New Mexico State Highway Commission). The upgrade reflects Standard&Poor's assessment of NMFA's very strong debt service coverage (DSC) and limited future debt plans. At the same time, Standard&Poor's assigned its 'AAA' rating, and stable outlook, to NMFA's state transportation refunding revenue bonds (senior lien), series 2012, issued for the commission. Standard&Poor's also affirmed its 'AA' underlying rating (SPUR) on NMFA's $640.0 million subordinate-lien bonds outstanding, which have an additional bonds test that includes federal funds, unlike the
