Standard & Poor’s raised Indian Hill’s general obligation rating to AAA from AA-plus in recognition of its maintenance of very strong reserve levels and significant revenue raising flexibility.
The review was conducted in conjunction with the sale of $6 million of debt. The rating reflects the city’s participation in the diverse Cincinnati metropolitan-area economy, very strong income and extremely strong wealth levels, good management practices, and low overall debt level as a percentage of market value.
“We expect that the city will maintain balanced operations and very strong reserve levels,” said analyst Steffanie Dyer.
Indian Hill’s limited-tax GO pledge secures the new bonds and the city intends to use water revenue to pay for a portion of debt service. Proceeds will fund the expansion of the administration building and improvements to the waterworks system.
Indian Hill is located in Hamilton County.
