Summary: Oklahoma Development Finance Authority Oklahoma; Appropriations

S&P Global Ratings assigned its 'AA-' long-term rating the Oklahoma Development Finance Authority's (ODFA) approximately $1.96 million master equipment lease revenue and refunding bonds, series 2020B (tax-exempt), and $4.125 million master equipment lease revenue and refunding bonds, series 2020C (federally taxable). The outlook is negative. Lease-rental payments by the State Regents of the Oklahoma State System of Higher Education to ODFA, pursuant to a master equipment lease purchase agreement and separate supplemental indentures between Oklahoma State System of Higher Education (the lessee) and ODFA (the lessor) secure the series 2020B and 2020C bonds. The lease-rental payments are subject to annual appropriation by the Oklahoma Legislature to the Oklahoma State System of Higher Education, and are allocated by the State Regents

...S&P Global Ratings assigned its '##-' long-term rating the Oklahoma Development Finance Authority's (ODFA) approximately $1.96 million master equipment lease revenue and refunding bonds, series 2020B (tax-exempt), and $4.125 million master equipment lease revenue and refunding bonds, series 2020C (federally taxable). The outlook is negative. Lease-rental payments by the State Regents of the Oklahoma State System of Higher Education to ODFA, pursuant to a master equipment lease purchase agreement and separate supplemental indentures between Oklahoma State System of Higher Education (the lessee) and ODFA (the lessor) secure the series 2020B and 2020C bonds. The lease-rental payments are subject to annual appropriation by the Oklahoma Legislature to the Oklahoma State System of Higher Education, and are allocated by the State Regents to participating Oklahoma higher education institutions. A portion of proceeds from the series 2020B and series 2020C bonds will refund the outstanding principal...

Summary