Standard & Poor's Ratings Services said it raised its long-term rating two notches to A-plus from A-minus on Buck Creek Township Government Center Building Corp., Ind.'s general obligation first-mortgage bonds, issued for Buck Creek Township.
The outlook is stable.
"The upgrade reflects an improvement in budgetary flexibility in 2013 and 2014," said Standard & Poor's credit analyst Anna Uboytseva.
A recently passed legislation allowed the township to increase its maximum tax levy from fiscal 2014 to help eliminate the persistent need for cash flow borrowing and to improve its financial position.
Buck Creek, with an estimated population of 8,541, is located in Hancock County in the Indianapolis-Carmel-Anderson metropolitan area.
