7/22/14 - Standard & Poors has updated its rankings, and the City of Howell has been upgraded from an A+ to an AA-. The city maintained the A+ rating through the recession, although Mayor Phil Campbell says new approaches to business and finance were needed to weather the storm. He, along with City Manager Shea Charles, see the improved credit rating as an indicator that they have taken the city down the correct road. A municipalityâs credit rating determines the interest rates available when it seeks to issue bonds, and this increase should be able to save the city money when that becomes necessary. However, Mayor Phil Campbell points out that the city has eliminated its debt for now, and Charles says they do not expect to be in the market for more anytime soon. (TD)
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