S&P Global Ratings assigned its 'AA+' rating and stable outlook to Rhode Island Health&Educational Building Corp.'s series 2016C revenue bonds, issued for Newport, and affirmed its 'AA+' rating, with a stable outlook, on the corporation's existing debt, issued for the city. In addition, S&P Global Ratings affirmed its 'AA+' rating, with a stable outlook, on the city's existing general obligation (GO) debt. Newport's full-faith-and-credit-GO pledge secures the bonds. Officials intend to use series 2016C bond proceeds to fund a new roof for Rogers High School. The rating reflects our opinion of the city's: Very strong economy, with access to a broad and diverse metropolitan statistical area (MSA); Strong management, with good financial policies and practices under our Financial
