S&P Global Ratings assigned its 'AA' long-term rating to Cincinnati's series 2020A unlimited-tax various purpose general obligation (GO) refunding bonds. The outlook is stable. The series 2020A GO bond proceeds will be used to refund the city's series 2012B various purpose, 2012D urban redevelopment improvement, 2014B public building, 2015A various purpose improvement and refunding, and 2015D judgment GO bonds. The refunding is for the purpose of interest cost savings. The GO bonds are secured by the city's full-faith-credit-and-resources and an agreement to levy ad valorem property taxes without limit to rate or amount. Per the city's charter, the levy used to support the debt service is not subject to the state's 10-mill limitation. The city is the anchor for a
