Summary: Marquette Brownfield Redevelopment Finance Authority, Michigan Marquette; General Obligation; General Obligation Equivalent Security

S&P Global Ratings assigned its 'AA' long-term rating to the City of Marquette Brownfield Redevelopment Finance Authority, Mich.'s series 2016A limited-tax general obligation (GO) tax increment bonds, reflecting the limited-tax GO pledge of the City of Marquette, Mich. At the same time, we affirmed our 'AA' long-term rating and underlying rating (SPUR) on the city's existing GO debt. A pledge of the city's full-faith-credit-and-resources and an agreement to levy ad valorem property taxes within Michigan limitations as to rate and amount secure the bonds. For series 2016A, the city will also pledge tax increment revenue collections. Our rating is based on the city's full-faith-credit-and-resource limited-tax GO pledge, which we feel is the stronger pledge. It is our understanding that the

...S&P Global Ratings assigned its '##' long-term rating to the City of Marquette Brownfield Redevelopment Finance Authority, Mich.'s series 2016A limited-tax general obligation (GO) tax increment bonds, reflecting the limited-tax GO pledge of the City of Marquette, Mich. At the same time, we affirmed our '##' long-term rating and underlying rating (SPUR) on the city's existing GO debt. A pledge of the city's full-faith-credit-and-resources and an agreement to levy ad valorem property taxes within Michigan limitations as to rate and amount secure the bonds. For series 2016A, the city will also pledge tax increment revenue collections. Our rating is based on the city's full-faith-credit-and-resource limited-tax GO pledge, which we feel is the stronger pledge. It is our understanding that the series 2016A bond proceeds will be used to finance the relocation and construction of a new municipal services center for the city. The ratings reflect our view of the following factors, including the city's:...

Summary