S&P Global Ratings assigned its'A+'long-term rating on Port Huron , Michigan’s $2.525 million series 2026 limited tax general obligation (LTGO) bonds. S&P Global Ratings also affirmed its'A+'underlying rating on the city’s GO debt outstanding. The outlook is stable. The series 2026 bonds and LTGO debt outstanding are secured by the city’s full faith and credit pledge, with the bonds payable from ad valorem property taxes levied on all taxable property, subject to applicable constitutional, statutory and charter tax rate limitations. We rate the LTGO debt on par with our view of the city’s general creditworthiness given that property taxes are levied on all taxable properties and given the fungibility of resources available for debt service. While
