Highland Village Receives Bond Rating Increase From A+ to AA-

The city of Highland Village receives bond rating increase from A+ to AA-. Standard & Poor’s Ratings Services raised the city’s rating by one notch based on the city’s property tax base diversification and reduced dependence on property tax revenues as its largest revenue source. The financial outlook for the city of Highland Village is stable.

In a presentation to the City Council, Boyd London with First Southwest Company said, “Highland Village has received an excellent rating, despite the negative news of today’s financial market.” Standard & Poors noted the two large retail developments, the Marketplace at Highland Village and the Shops at Highland Village, constructed over the past year as contributing to the city’s strong income indicators.

The ratings reflect the city’s strong financial performance and position. Highland village is essentially built out and the ratings signify that a sufficient permanent population exists to support the retail projects and that the city’s additional capital needs are very limited.

After receiving the presentation, Mayor Dianne Costa said, “This is excellent news for the city and we thank staff, particularly our finance director, Ken Heerman, for working to put Highland Village in this good financial situation.”

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City of Highland Village, 1000 Highland Village Road, Highland Village, Texas 75077
Contact:  Laurie Mullens, Public Affairs Manager
(972) 899-5131  Cell:  (940) 597-3721  Fax:  (972) 317-0237
www.highlandvillage.org