...S&P Global Ratings assigned its '##-' long-term rating to Akron, Ohio's approximately $11.7 million series 2020 various purpose income tax revenue and refunding bonds. At the same time, S&P Global Ratings affirmed its '##-' long-term rating on the city's community learning center (CLC) income tax and basic income tax revenue bonds and series 2012 port facilities revenue refunding bonds. The outlook is negative. The series 2020 bond proceeds will be used to refund the city's series 2011 pension refunding bonds and series 2012 various purpose income tax bonds for interest cost savings. A portion of the proceeds will be used to refund the Dec. 1, 2020, interest payment on the city's series 2014 various purpose income tax bonds, series 2015 parking facilities bonds, series 2016 various purpose income tax bonds, and series 2019 various purpose income tax bonds. This portion of the financing will be amortized over 10 years for the 2014 and 2019 refunding portion, and eight years for the 2015...
