S&P Global Ratings assigned its'AA+'long-term rating to the City of Cleveland's $126.8 million series 2026 various purpose general obligation (GO) bonds, reflecting an additional first-lien pledge of the city's 2.5% income tax. 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. Finally, S&P Global Ratings affirmed its'AA'long-term rating and SPUR on Cleveland's subordinate-lien income tax bonds. The outlook is stable. Series 2026 bond proceeds will be used to finance various capital projects and refund Cleveland’s series 2025 GO bond anticipation notes. Revenue from ad valorem property taxes levied within Cleveland's share of the city’s 10-mill limitation and a first lien on municipal
