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The original item was published from 3/29/2019 10:32:36 AM to 12/31/2019 10:05:02 PM.

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Posted on: April 1, 2019

[ARCHIVED] General obligation bond rating upgraded for City

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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.

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