Fiscal Management warrants increased Credit Rating for our Village.

A recent report issued by S&P Global, the leading provider of transparent and independent ratings, has increased the credit rating for Elk Rapids from A+ to AA-.  This tells the world our Village has a Very Strong capacity to meet financial commitments.

S&P Global not only looked at our history, but also our future when determining our credit rating.  Their independent review noted part of their decision was based upon a “Strong local economy, showing continued improvement with a very strong property tax base, supported by a desirable location on Lake Michigan”. When they dug deeper and reviewed our financial practices and policies coupled with our fiscal responsibility regarding budget management, their decision to increase the credit rating was an easy one.

When you break all this down, it simply means Elk Rapids is recognized as an incredible place to live, with solid financial strength and leadership all of which is driving our town in the right direction.

-John Matthews, Interim Village Treasurer

View the full report below: