CHICAGO (Standard&Poor's) June 6, 2012--Standard&Poor's Ratings Services has revised the outlook on its 'BBB+' long-term rating on the Village of Holly, Mich.'s series 2004 wastewater revenue bonds to positive from stable. Standard&Poor's affirmed its 'BBB+' long-term rating on the revenue bonds. "The city has implemented what we consider to be substantial rate increases effective fiscal 2012. Rates have a specific debt service fee component that is designed to fully subsidize the wastewater fund's annual debt service payments. Within the next two years, we could raise the rating if debt service coverage improves to at least the covenanted minimums, and cash levels rise to levels consistent with a higher rating level," said Standard&Poor's
