S&P Global Ratings assigned its 'AA+' long-term rating to Ada Township, Mich.'s limited-tax general obligation (GO) capital improvement bonds, series 2016. At the same time, we affirmed our 'AA+' long-term rating on the township's existing GO bonds. The outlook is stable. Bond proceeds will be used to pay the cost of certain capital improvements. The bonds are secured by the township's full faith and credit and limited-tax pledge. The township is obligated to make such payments as a first budget obligation, including any collections of ad valorem taxes it may be authorized to levy. The long-term rating reflects our view of the township's: Very strong economy, with access to a broad and diverse metropolitan statistical area (MSA); Adequate management, with
