S&P Global Ratings assigned its 'AA' underlying rating and stable outlook to Marquette, Mich.'s series 2017 unlimited-tax general obligation (GO) bonds. The city's full faith and credit GO pledge secures the bonds. The bonds are payable from ad valorem property taxes that may be levied without limitations as rate or amount. Bond proceeds will be used to finance improvement and renovation projects at the Peter White Public Library building and surrounding area. The 'AA' rating reflects our view of the city's: Adequate economy, with a local stabilizing institutional influence; Strong management, with good financial policies and practices under our Financial Management Assessment (FMA) methodology; Strong budgetary performance, with operating results that we expect could improve in the near term relative
