S&P Global Ratings assigned its'AA+'long-term rating to Ada Township , Michigan's $7.625 million series 2026 limited-tax general obligation (LTGO) capital improvement bonds. At the same time, S&P Global Ratings affirmed its'AA+'long-term rating on the township's existing unlimited-tax and LTGO debt. The outlook is stable. The township's full faith and credit pledge and agreement to levy taxes on all taxable property--within constitutional and statutory limitations--secure the series 2026 bonds and existing GO debt. Despite these limitations, we rate the debt at the same level as our view of the township's general creditworthiness due to a lack of limitations on the fungibility of resources available for debt service. Officials will use the series 2026 bond proceeds to pay
