...NEW YORK (S&P Global Ratings) May 30, 2017--S&P Global Ratings raised its underlying rating to '##+' from '##' on Portage, Mich.'s outstanding general obligation (GO) bonds, including bonds issued for the city through the Portage Building Authority, the Portage Local Development Finance Authority, and the Michigan Transportation Fund (MTF). In addition, we assigned our '##+' rating to the city's series 2017 capital improvement GO limited-tax bonds. The outlook on all the ratings is stable. "The upgrade reflects our assessment of Portage's very strong management practices that have contributed to the maintenance of stable financial operations supporting the city's very strong budgetary flexibility and liquidity, said S&P Global Ratings credit analyst Moreen Skyers-Gibbs, "as well as our view that this will continue within our two-year outlook horizon given the city's demonstrated track record." Furthermore, we believe that the absence of significant pension and other postemployment benefit...
