Standard&Poor's Ratings Services assigned its 'AA' long-term rating to Sioux City, Iowa's series 2015A general obligation (GO) bonds and series 2015B taxable GO bonds. At the same time, we affirmed our 'AA' ratings on the city's outstanding GO bonds. The outlook is stable. A pledge of the city's full faith and credit and an agreement to levy ad valorem property taxes without limit as to rate or amount secures the 2015A and B bonds. The city intends to use the 2015A proceeds for various infrastructure projects. Series 2014B proceeds will be used for various public improvements within designated urban renewal areas of the city. The rating reflects our assessment of the following factors for the city, specifically its:
