OREANDA-NEWS. S&P Global Ratings assigned its 'A+' long-term rating to Hudson, Colo.'s series 2016 limited property and sales tax refunding bonds. The outlook is stable.

The bonds represent limited-tax general obligations (GOs) of the town. Bond proceeds will be used to refund the town's series 2009 sales tax bonds and 2009 limited property tax GO bonds.

"The rating reflects our view of the town's adequate management and very strong budgetary flexibility and liquidity," said S&P Global Ratings credit analyst Alyssa Farrell. Other factors include its:Weak economy, with a concentrated local tax base, yet with access to a broad and diverse metropolitan area; Adequate budgetary performance, with operating results that we expect could deteriorate in the near term relative to fiscal 2015, which closed with operating surpluses in the general fund and at the total governmental fund level; Strong debt and contingent liability position, with debt service carrying charges at 4.5% of expenditures and net direct debt at 51.6% of total governmental fund revenue; and Strong institutional framework score. Hudson, with an estimated population of 1,570, encompasses approximately 5.7 square miles roughly 30 miles northeast of downtown Denver in Weld County.

"The stable outlook reflects our expectation that management will continue to make the adjustments necessary to maintain its very strong financial position, despite volatile revenues," added Ms. Farrell. We do not expect to change the rating within the two-year outlook horizon.