Standard & Poor's Ratings Services said it has raised its rating to AA-minus from A-plus on West View Borough, Pa.'s general obligation bonds.
The outlook is stable.
"The upgrade reflects our view of the borough's consistent maintenance of very strong budgetary flexibility and performance, coupled with low debt burden as most debt are supported by its utility system," said Standard & Poor's credit analyst Apple Lo.
The rating reflects the borough's: adequate economy; strong budgetary performance; very strong budgetary flexibility; very strong liquidity; adequate management conditions; very strong debt and contingent liabilities; and strong institutional framework.
The stable outlook reflects the borough's very strong liquidity, and strong budgetary flexibility and performance, coupled with a low debt burden.
Rating actions are possible if the borough draws down on its fund balance beyond the level S&P considers nominally low, coupled with market value per capita falling below $30,000. Credit improvements depend on stabilization of the local tax base, along with the adoption of additional management policies, which would increase stability in the borough's financial matrices.
