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. The 'A+' rating reflects our view of the village's: Adequate economy, with projected per capita effective buying income at 87.4% and market value per capita of $34,296, though that is advantageously gaining from access to a broad and diverse metropolitan statistical area (MSA); Adequate management, with "standard" financial policies and practices; Strong budgetary performance, with operating results that we expect could deteriorate
