Standard&Poor's Ratings Services assigned its 'AA' long-term rating to Marquette, Mich.'s series 2015 general obligation (GO) capital improvement bonds. We also affirmed our 'AA' long-term rating on the city's existing GO debt and Marquette Brownfield Redevelopment Finance Authority's debt, which is supported by Marquette. The outlook on all ratings is stable. The city's limited-tax full faith and credit GO pledge secures the payment of principal of, and interest on, the bonds. Marquette is obligated to make payments on the bonds as a first budget obligation from its general funds, including the collection of any ad valorem taxes it can levy. Officials intend to use bond proceeds to finance various capital improvement projects. The rating reflects our assessment of
