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

S&P Global Ratings assigned its 'AA+' long-term rating to the City of Portage, Mich.'s series 2020 $7 million capital improvement bonds and $4.3 million capital improvement refunding limited-tax general obligation (GO) bonds. At the same time, we affirmed our 'AA+' rating on the city's existing GO bonds, including bonds issued for the city through the Portage Building Authority and the Portage Local Development Finance Authority, as well as our 'AA+' rating on the city's Michigan Transportation Fund (MTF) bonds outstanding. The outlook on all the ratings is stable. The 2020 and existing GO bonds are secured by a pledge of the city's full faith, credit, and resources and an agreement to levy ad valorem property taxes within state limitations. We

...S&P Global Ratings assigned its '##+' long-term rating to the City of Portage, Mich.'s series 2020 $7 million capital improvement bonds and $4.3 million capital improvement refunding limited-tax general obligation (GO) bonds. At the same time, we affirmed our '##+' rating on the city's existing GO bonds, including bonds issued for the city through the Portage Building Authority and the Portage Local Development Finance Authority, as well as our '##+' rating on the city's Michigan Transportation Fund (MTF) bonds outstanding. The outlook on all the ratings is stable....

Summary