S&P Global Ratings assigned its 'AA-' rating to Oklahoma Development Finance Authority's (ODFA) $3.085 million series 2020A master equipment lease revenue bonds, issued for Oklahoma. The outlook is negative. The negative outlook reflects our view that there is at least a one-in-three chance we could lower Oklahoma rating within the outlook period, as the state is likely to contend with considerable budget uncertainty due to a steep decline in revenue collections–including a declared revenue failure of 6% (or $416.9 million) for the remainder of fiscal 2020. For fiscal 2021, available revenue is projected to decline 16.6% or $1.366 billion under the state's worst-case scenario. While the fiscal 2020 revenue failure alone, in our view, is similar in scale to revenue
