S&P Global Ratings assigned its 'AA+' long-term rating to the City of Portage , Mich.'s $3.7 million series 2025 general obligation (GO) limited-tax capital improvement bonds. At the same time, we affirmed our 'AA+' underlying rating on the city's previously issued GO debt. The rating is based on the application of our " Methodology For Rating U.S. Governments ,? published Sept. 9, 2024. The outlook is stable. The city has pledged its limited tax, full faith and credit, and general obligation for the payment of principal of and interest on the bonds when due. The city's ability to levy such tax is subject to applicable constitutional and statutory tax rate limitations. Bond proceeds will be used for various projects throughout the
