This report does not constitute a rating action. S&P Global Ratings'long-term rating on the Port of Greater Cincinnati Development Authority's series 2025A tax-exempt parking revenue and refunding bonds, issued for Cincinnati Center City Development Corp. (3CDC Obligated Group Parking Facilities, 3CDC, or obligated group members), is ‘BBB+’. The outlook is stable. Gross parking revenue from eligible parking assets; commercial rents, fees, interest earnings; and tax increment financing (TIF) revenue from the 84.51 office building secure the bonds. The master indenture provides for a cross-collateralized, pooled asset program, with first mortgages and first security interests in gross parking revenue, among other securities and collateral, securing supplemental notes and debt. Parking system assets under the master lease have ground lease
