Summary: Portage, Michigan; General Obligation; General Obligation Equivalent Security

Standard&Poor's Ratings Services assigned its 'AA' long-term rating to the Portage Local Development Finance Authority, Mich.'s series 2014 tax increment refunding bonds, issued for the City of Portage. At the same time, Standard&Poor's affirmed its 'AA' long-term rating and underlying rating (SPUR) on the city's and the city's building authority's previously issued general obligation (GO) debt. The outlook s stable. The city's limited-tax full faith and credit GO pledge secures the series 2014 bonds. The bond proceeds will refund the city's series 2005 tax increment bonds for interest cost savings. The 'AA' long-term rating reflects our assessment of the following factors for the city: Strong economy, which benefits from participation in the broad and diverse Kalamazoo-Portage

...Standard & Poor's Ratings Services assigned its '##' long-term rating to the Portage Local Development Finance Authority, Mich.'s series 2014 tax increment refunding bonds, issued for the City of Portage. At the same time, Standard & Poor's affirmed its '##' long-term rating and underlying rating (SPUR) on the city's and the city's building authority's previously issued general obligation (GO) debt. The outlook s stable. The city's limited-tax full faith and credit GO pledge secures the series 2014 bonds. The bond proceeds will refund the city's series 2005 tax increment bonds for interest cost savings. The '##' long-term rating reflects our assessment of the following factors for the city:...

Summary