...S&P Global Ratings revised the outlook to stable from negative and affirmed its '##-' long-term rating on Akron, Ohio's series 2011 joint economic development district (JEDD) 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. Therefore, the city's general creditworthiness, as reflected by the GO rating, constrains the JEDD 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 deterioration, and that the city's budgetary flexibility has improved, partly as a result of the receipt of federal stimulus funding. For more information on the obligor's creditworthiness, as represented by our 'A+' rating on the city's GO bonds, see our report published Aug. 20, 2021, on RatingsDirect....
