S&P Global Ratings assigned its ?AA+ ? rating to Lower Moreland Township , Pa.'s roughly $10 million series 2025 general obligation (GO) bonds. At the same time, we affirmed our ?AA+? rating on the borough?s existing GO debt. The outlook is stable. The rating is based on the application of our " Methodology For Rating U.S. Governments ," published Sept. 9, 2024. The township's full-faith-and-credit GO pledge secures the GO debt. Series 2025 bond proceeds are financing a new fire station while funding a deposit to a capitalized interest fund. In our view, the township?s above-average economic indicators, stable reserves, and manageable debt burden support the general creditworthiness. Somewhat offsetting those strengths are nominal reserve levels and incomes that have
