...S&P Global Ratings revised the outlook to stable from negative and affirmed its '##-' long-term rating on Akron, Ohio's community learning center (CLC) income tax bonds, basic income tax revenue bonds, and series 2012 port facilities revenue refunding bonds. At the same time, S&P Global Ratings assigned its '##-' long-term rating with a stable outlook to the city's roughly $109.5 million series 2022 CLC income tax revenue refunding bonds. The outlook revision reflects a similar action on the city general obligation (GO) rating. Under our priority-lien tax revenue debt criteria, we see a close relationship between the priority lien pledge and the city's general creditworthiness given that income tax revenue represents the city's main operating revenue. Therefore, the city's general creditworthiness, as reflected by the GO rating, constrains the income tax ratings. The outlook revision on the GO rating reflects our view that the city has so far weathered the COVID-19 pandemic without financial...
