S&P Global Ratings assigned its 'A+' long-term rating to Akron, Ohio's $12.4 million series 2023 general obligation (GO) various-purpose bonds. We also affirmed our 'A+' long-term and underlying ratings on the city's existing limited-tax GO bonds, nontax revenue bonds, and the Development Finance Authority of Summit County (the authority) development nontax lease revenue bonds. Additionally, we affirmed our 'A' long-term rating on the annual appropriation lease revenue bonds and certificates of participation (COPs), issued for the city of Akron. The outlook is stable. The city's full faith, credit, and resources, and an agreement to levy ad valorem property taxes subject to the 10.5-mill limitation imposed by the city charter that supersedes the 10-mill state limitation, secures the series 2023 and
