List Of U.S. State And Local Government Ratings Unaffected By Priority-Lien Criteria

BOSTON (S&P Global Ratings) Feb. 4, 2019--S&P Global Ratings does not 
currently expect the application of its new "Priority-Lien Tax Revenue Debt" 
(Priority-Lien) criteria (published Oct. 22, 2018, on RatingsDirect) to result 
in changes to the issues listed below. The listed issues are by U.S. state and 
local governments and their related instrumentalities and constitute a subset 
of ratings within scope of the Priority-Lien criteria. We expect to update 
this list monthly.

The list can be viewed and downloaded by clicking the following link:
We are taking a phased approach to assessing the rating impact of the 
application of the criteria. Each month, we expect to update the list with all 
of our outstanding ratings within scope of the Priority-Lien criteria that we 
have reviewed and do not expect the rating to change. Based on market 
feedback, we are providing additional detail to assist market participants 
identify issues not affected by the criteria.
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