S&P Global Ratings assigned its 'AA' long-term rating to Grosse Ile Township (Wayne County), Mich.'s $21.8 million series 2025 unlimited-tax general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its 'AA' long-term rating on the township's existing debt. The outlook is stable. The rating reflects the application of S&P Global Ratings' methodology for rating U.S. governments published Sept. 9, 2024. The township's unlimited-tax full faith and credit secures the debt. Voters authorized a total issuance of $59.7 million, the balance of which the township plans to issue in September 2025. Bond proceeds will be used to purchase and make upgrades to a toll bridge that was previously privately owned and operated. It is one of two bridges
