Standard&Poor's Ratings Services assigned its 'AA' long-term rating, and stable outlook, to Portage, Mich.'s series 2010 limited-tax general obligation (GO) city share refunding bonds and affirmed its 'AA' long-term rating and underlying rating (SPUR), with a stable outlook, on the city's existing GO debt. Standard&Poor's also affirmed its 'AA' long-term rating and underlying rating (SPUR), with a stable outlook, on Portage Building Authority's appropriation debt, supported by the city. In our opinion, the rating reflects the city's: Access to, and participation in, the diverse Kalamazoo, Mich. area economy; Very strong wealth and good income indicators, coupled with below-average unemployment; and Sound financial profile, evidenced by consistently strong general fund reserves. The city's moderately high overall debt
