S&P Global Ratings assigned its 'SP-1+' short-term rating to Cleveland 's $37.1 million series 2025 various purpose general obligation (GO) bond anticipation notes (BANs). At the same time, S&P Global Ratings affirmed its 'AA+' long-term rating and underlying rating (SPUR) on the city's GO bonds outstanding, reflecting an additional first-lien pledge of the city's 2.5% income tax. Finally, S&P Global Ratings affirmed its 'AA' long-term rating and SPUR on the city's subordinate-lien income tax bonds. The outlook, where applicable, is stable. The 'SP-1+' short-term rating reflects: Our investment-grade long-term rating; and Our view of the city?s low market risk profile, indicating strong legal authority to take out the notes with bonds before maturity, and strong information availability. The series 2025
