Thursday, March 23, 2023

Highland Village’s AAA credit rating affirmed

At Tuesday’s Highland Village City Council meeting, council members were informed that the city’s AAA credit rating has been affirmed again by the Standard & Poors Global Ratings, with a stable outlook.

The city has had the highest credit rating available since 2018, when it was increased from AA+ to AAA. The high rating was credited to the city’s strong economy, strong financial policies and practices, and strong budgetary performance and flexibility, the city said in a news release.

The credit rating comes in conjunction with the council’s intent to issue Certificates of Obligation for parks and street projects totaling $15.75 million, according to the city.. Council will consider approval of the ordinance on Nov. 9, and then on Dec. 14 it will consider approval of the ordinance authorizing the issuance of the COs, with the closing of the CO bond and funds received by the city on Dec. 30.

Mark Smith
Mark Smith
Mark Smith is the Digital Editor of The Cross Timbers Gazette.

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