S&P Global Ratings assigned its 'AA+' rating and stable outlook to Rhode Island Health&Educational Building Corp.'s federally taxable $17.8 million series 2021C revenue refunding bonds, issued for the City of 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 2021C bond proceeds to refund the existing 2013 school bonds issued by the corporation for the city. The rating reflects Newport's continued surplus performance, with a third consecutive surplus reported for fiscal 2020 and anticipated balanced performance
