S&P Global Ratings assigned its 'BBB+' long-term rating to the City of Shreveport, La.'s anticipated $42.11 million general obligation (GO) bonds, series 2022A. We also affirmed our 'BBB+' long-term rating and underlying rating (SPUR) on its GO bonds and limited-tax debt outstanding. The outlook is stable. The GO bonds are secured by an unlimited ad valorem tax on all taxable property within the city. We understand that proceeds will be used to fund construction and improvements for the police and fire departments. Shreveport also has debt secured by a lawfully available funds pledge, which we rate the same as the GO debt because we do not believe there are limitations on the fungibility of resources. The city's financial operations were
