S&P Global Ratings raised its long-term rating and underlying rating to 'AA-' from 'A+' on Spring Hill's general obligation (GO) bonds.

The rating action reflects the city's strengthened budgetary flexibility position, supported by the creation of a general fund operating reserve.

The GO rating reflects S&P Global Ratings' view of the city's:

     • Strong economy, with access to a broad and diverse metropolitan statistical area;

     • Strong management, with good financial policies and practices under our financial management assessment methodology;

     • Very strong budgetary flexibility; 

Views also noted in the report include adequate budgetary performance and strong liquidity offset only by weak debt and contingent liability position.