S&P Global Ratings assigned its 'AA-' long-term rating the Oklahoma Capitol Improvement Authority's (OCIA) $170.98 million state highway capital improvement revenue bonds, tax-exempt series 2020B and $22.26 million state highway capital improvement revenue refunding bonds, federally taxable series 2020C, issued for the state of Oklahoma. The outlook on all long-term ratings is negative. Lease payments allocated by the Oklahoma Department of Transportation (ODOT) to the OCIA, pursuant to the terms of use and possession (the lease agreement) and the amended and restated agreement between ODOT (the lessee) and OCIA (the lessor), secure the series 2020B and series 2020C bonds. The lease payments are subject to annual appropriation by the Oklahoma legislature to ODOT. Proceeds from the series 2020B revenue bonds
