Standard&Poor's Ratings Services assigned its 'AA' rating and stable outlook to Marquette, Mich.'s series 2012 general obligation (GO) capital improvement bonds and affirmed its 'AA' rating, with a stable outlook, on the city's existing GO debt and Marquette Brownfield Redevelopment Finance Authority's debt, supported by Marquette. The rating reflects our opinion of Marquette's: Economy that serves as a regional center in Michigan's Upper Peninsula and is home to Northern Michigan University; Very strong reserves, supported by good financial management; Revenue-raising flexibility as the city levies taxes under the Headlee limit; and Low debt. We believe what we consider Marquette's adequate, but below-average, income somewhat constrains the rating. The city's limited-tax full-faith-and-credit GO pledge secures the payment of principal
