Standard & Poor’s last week raised the underlying rating one notch to A-plus on the city of Marshall’s general obligation debt in recognition of its continued maintenance of healthy fund balances and very strong reserves.

The review was done in conjunction with the city’s issuance of $1.35 million of limited-tax GO bonds. The rating reflects Marshall’s proximity to the Lansing, Kalamazoo, and Battle Creek economic bases; a slowly recovering tax base after significant losses in 2006; and adequate income, strong wealth levels, and moderate debt levels. The city is home to nearly 7,500 residents and has $10.9 million of debt affected by the upgrade.

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