Standard & Poor’s raised Harrisonville’s annual appropriation-supported debt rating two notches to A-plus in recognition of its very strong general fund financial reserves.
The agency assigned a AA-minus issuer credit rating and an A-plus long-term rating to the upcoming sale of $5.7 million of annual appropriation-supported revenue bonds and $3 million of subordinate bonds. The rating is supported by the city’s economic diversity as a participant in the greater Kansas City area, adequate wealth and income levels, a stable local tax base, and the maintenance of very strong general fund reserves.
The city of nearly 10,000 residents is located about 33 miles southeast of Kansas City. The bond proceeds will primarily go to reimburse renovation and construction costs relating to the Harrisonville Market Place project.