Holly Village, MI GO Bond Rating Raised To 'A+' On Improved Budgetary Flexibility And Performance

CHICAGO (Standard&Poor's) April 30, 2015--Standard&Poor's Ratings Services raised its long-term rating on Holly Village, Mich.'s outstanding general obligation (GO) debt to 'A+' from 'A'. At the same time, we assigned an 'A+' rating to the village's series 2015 GO limited tax refunding bonds. The outlook is stable. "The upgrade is based on improvement in Holly Village's budgetary flexibility and performance," said Standard&Poor's credit analyst Anna Uboytseva. The rating reflects our view of the village's adequate economy, strong budgetary performance, very strong budgetary flexibility and liquidity, and weak debt and contingent liability. The stable outlook reflects Standard&Poor's expectation that Holly Village will maintain at least strong budgetary performance and very strong budgetary flexibility

...CHICAGO (Standard & Poor's) April 30, 2015--Standard & Poor's Ratings Services raised its long-term rating on Holly Village, Mich.'s outstanding general obligation (GO) debt to 'A+' from 'A'. At the same time, we assigned an 'A+' rating to the village's series 2015 GO limited tax refunding bonds. The outlook is stable. "The upgrade is based on improvement in Holly Village's budgetary flexibility and performance," said Standard & Poor's credit analyst Anna Uboytseva. The rating reflects our view of the village's adequate economy, strong budgetary performance, very strong budgetary flexibility and liquidity, and weak debt and contingent liability. The stable outlook reflects Standard & Poor's expectation that Holly Village will maintain at least strong budgetary performance and very strong budgetary flexibility during our two-year horizon. We expect economic metrics to improve slightly but not enough to bring the score higher. A significant increase in the tax base and improvement in the...

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