Hillsboro bond rating improves

S&P Global has changed the City of Hillsboro and Hillsboro Public Building Commission’s relatively weak bond rating from BBB+ with a negative outlook to A- with a stable outlook.

The change was prompted by corrections in Hillsboro’s budgetary imbalances, increases in available reserves, and sound financial stewardship after the bankruptcy of the previous operator of Hillsboro Community Hospital in 2019.

While the city is not looking into bonds for the near future, this rating will save money on interest costs when it does.

Marion County as a whole is rated AA with a stable outlook by S&P Global. The State of Kansas is rated AA-.