Great news from the financial world will have a major impact on improving the quality of life for Spring Hill residents.
On Tuesday, November 19, S&P Global Ratings assigned it “AA+” long-term rating to Spring Hill’s $57 million series 2024 general obligation bonds. At the same time, S&P Global Ratings affirmed its “AA+” long-term rating on the City’s debt outstanding.
S&P also described Spring Hill’s outlook as “stable.”
As the City of Spring Hill moves forward with several important Capital Improvement Projects, bond proceeds will be able to be used to finance projects such as the Police Department Headquarters and Fire Station No. 4, among others.
“I’m thankful for the hard work of City Leadership in securing this high bond rating for Spring Hill,” said Spring Hill Mayor Jim Hagaman. “Spring Hill residents can take this as another sign that the City’s financial future is in great shape and in great hands.“
Spring Hill previously made the jump to “AA+” in 2022, a rating it has sustained since. The bonds are a full faith and credit obligation of the city, payable from unlimited ad valorem property taxes.
If you have any questions or require additional information, please contact Communications Director Lucas Wright at [email protected].
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