Moody’s Investors Service upgraded the town of Clover, S.C.’s rating to Baa1 from Baa2, affecting $430,000 in outstanding rated general obligation debt.

The bonds are secured by the town’s general obligation unlimited-tax pledge. The upgrade reflects the town’s healthy financial position with strong reserve levels. The Baa1 rating also incorporates Clover’s limited tax base and low debt burden.

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