S&P Global Ratings assigned its 'AA+' long-term rating to Lower Moreland Township, Pa.'s series 2017 general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its 'AA+' rating on the township's outstanding GO debt. The outlook is stable. A pledge of the township's full faith credit and resources and an agreement to levy ad valorem property taxes without limitation as to rate or amount secure these bonds. Bond proceeds for the 2017 series will be used for the construction of various capital improvement projects as well as to refund the Lower Moreland Township Authority's 2011 guaranteed sewer revenue bonds. The long-term rating reflects our assessment of the following factors for the township: Very strong economy, with access to
