S&P Global Ratings assigned its 'AA-' long-term rating to Tonawanda , N.Y.'s roughly $2.028 million series 2025 general obligation (GO) public improvement bonds. At the same time, we affirmed our 'AA-' long-term rating on the city's previously issued GO debt, reflecting the application of our methodology for rating U.S. governments , published Sept. 9, 2024. The outlook is stable. The city's full faith and credit secures its GO debt and its $9.9 million bond anticipation notes, the latter of which we have not been asked to rate. Officials will use series 2025 bond proceeds to finance capital improvements. The rating reflects our view of Tonawanda's consistently positive operating performance, sizable available reserves, and manageable debt burden. Partly offsetting these strengths,
