Charlotte, NC GO Refunding Bonds Assigned #AAA# Rating

Stocks and Financial Services Press Releases Tuesday July 3, 2018 17:45
CENTENNIAL--3 Jul--S&P Global Ratings

CENTENNIAL (S&P Global Ratings) July 2, 2018--S&P Global Ratings assigned its 'AAA' long-term rating to Charlotte, N.C.'s series 2018A general obligation (GO) refunding bonds. At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating on the city's existing GO bonds and its 'AA+' long-term rating on the city's installment purchase obligations. The outlook is stable.

We also affirmed our 'AA+/A-1' dual rating on Charlotte's series 2013G variable-rate certificates of participation (COPs) and series 2003F variable-rate COPs.
Proceeds from the 2018A GO bonds will be used to refund portions of the city's 2008 GO refunding bonds for debt service savings with no extension of maturity.
"The 'AAA' long-term GO rating reflects our view of such factors as the city's very strong economy, management, budgetary flexibility, and liquidity," said S&P Global Ratings credit analyst Randy Layman.
The stable outlook reflects our view of the city's broad and diverse economy supported by its very strong financial position and sound financial practices and policies.

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