Standard & Poor's Ratings Services said it raised its issuer credit rating to A from A-minus on Bolivar, Mo., and raised its long-term rating to A-minus from BBB-plus on the city's series 2010A and 2010B taxable certificates of participation.
The outlook is stable.
"The raised ratings reflect an overall stabilization of the city's financial position, supported by strong operating reserves," said Standard & Poor's credit analyst Antionette Maxwell. "The rating is further supported by the city's above-average per capita retail sales, which support operations, and its low-to-moderate overall debt levels," Maxwell added.
Bolivar serves an estimated population of 10,035 in Polk County and encompasses 4.5 square miles in southwestern Missouri; approximately 27 miles north of Springfield.