Summary: Dayton, Ohio; General Obligation; Miscellaneous Tax

S&P Global Ratings assigned its 'AA' long-term rating to Dayton, Ohio's 2020 limited-tax general obligation (GO) various purpose refunding and improvement bonds and special obligation economic development refunding revenue bonds, secured by its nontax revenue. At the same time, S&P Global Ratings affirmed its 'AA' long-term rating on the city's GO and nontax revenue debt outstanding. The outlook is stable. The city's full faith and credit and an agreement to levy ad valorem property taxes within the 10-mill limitation, subject to the city's charter, secure the limited tax GO bonds. We rate the limited-tax GO debt at the same level as our view of the city's general creditworthiness given the full-faith-and-credit pledge and the flexibility of the city's general resources

...S&P Global Ratings assigned its '##' long-term rating to Dayton, Ohio's 2020 limited-tax general obligation (GO) various purpose refunding and improvement bonds and special obligation economic development refunding revenue bonds, secured by its nontax revenue. At the same time, S&P Global Ratings affirmed its '##' long-term rating on the city's GO and nontax revenue debt outstanding. The outlook is stable. The city's full faith and credit and an agreement to levy ad valorem property taxes within the 10-mill limitation, subject to the city's charter, secure the limited tax GO bonds. We rate the limited-tax GO debt at the same level as our view of the city's general creditworthiness given the full-faith-and-credit pledge and the flexibility of the city's general resources to pay debt service. The 2020 nontax revenue bonds and existing obligations are special obligations of the city secured by certain nontax revenue. Authorizing documents for the nontax revenue bonds do not prohibit the city...

Summary