Standard&Poor's Ratings Services assigned its 'AA' long-term rating and stable outlook to Marquette, Mich.'s series 2011 limited-tax general obligation (GO) bonds. At the same time, Standard&Poor's affirmed its 'AA' long-term and underlying rating (SPUR), with a stable outlook, on Marquette's GO debt outstanding. The rating reflects our view of the city's: Economy that serves as a regional center in Michigan's Upper Peninsula and is home to Northern Michigan University; Strong wealth levels; Very strong reserves, supported by good financial management; Revenue-raising flexibility, as the city levies property taxes under its Headlee limit; and Low debt burden. The city's adequate but below-average income levels somewhat constrain the rating, in our opinion. The city's limited-tax, full faith, and
