S&P Global Ratings assigned its ?A+? long-term rating to Spring Lake Special Assessment District , Mich.?s estimated $2.5 million spring lake special assessment bonds, series 2025, reflecting a general obligation backing of the City of Ferrysburg , Mich. The outlook is stable. The rating is based on the application of our ? Methodology For Rating U.S. Governments ? criteria, published Sept. 9, 2024. The bonds are secured by special assessments levied against properties in the Spring Lake Special Assessment District, as well as a full faith and credit pledge of the district itself. Assessed properties lie in the City of Ferrysburg and Spring Lake Township. Both the city and township have pledged their full faith and credit, general obligation backing
