The City of Northville is proud to announce that it has received a coveted AAA bond rating from S&P Global Ratings—formerly Standard & Poor’s—the highest rating possible. This rare distinction places Northville among 16 other municipalities and 3 counties in Michigan to achieve such an honor.
The AAA rating reflects the City’s strong financial management, including consistent operating surpluses, robust reserve levels, and improved funding of pension and other post-employment benefit (OPEB) obligations. These factors signal a solid financial foundation and a low credit risk, which directly benefits residents.
“This top-tier rating translates to significantly lower interest rates when the City issues bonds,” said George Lahanas, City Manager. “That means real savings—potentially thousands of dollars—for taxpayers on future projects, such as the upcoming water infrastructure improvements scheduled to begin this summer.”
The achievement is the result of long-term, strategic financial planning by City Council and staff, who have worked diligently to lower long-term liabilities, maintain strong fund balances, and keep taxes low—all while continuing to invest in essential services and infrastructure.
S&P Global Ratings is a leading provider of independent credit risk analysis for governments and corporations. Its evaluation of Northville highlights the City’s prudent fiscal policies and commitment to long-term sustainability.
This milestone marks a major achievement for Northville and sets the stage for continued financial health and smart growth for years to come.
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