S&P Global Ratings assigned its 'A+' long-term rating to Port Huron, Mich.'s series 2020 pension obligation bonds (POBs). At the same time, we affirmed our 'A+' long-term rating on all of the city's previously rated general obligation (GO) bonds. The outlook is stable. The city's full-faith-and-credit limited-tax GO pledge secures the 2020 bonds. The bonds are payable from ad valorem taxes levied on all taxable property, subject to statutory limitations. We rate the limited-tax GO debt at the same level as our view of the city's general creditworthiness given that ad valorem taxes are collected from the city's tax base and that there are no limitations on the fungibility of resources available for debt service. The proceeds will be used
