Town of Lexington receives upgraded credit rating from Moody’s Investors Service
December 10, 2015
Moody’s Investors Service announced in November 2015, an upgraded credit rating for the Town of Lexington Combined Waterworks and Sewer System Revenue Bonds from A1 (strong) to Aa3 (very strong) and confirmed its MIG-1 short term rating (highest) for the Town’s short-term water and sewer revenue obligations.
In assigning these ratings, Moody’s, one of the country’s two principal bond rating agencies, cited conservative budgeting practices and multi-year forecasting, contributing to sound liquidity levels and debt service coverage.
The Town expects its strengthened credit rating to help to assure that its cost of funds for improvements needed to provide high-quality water and sewer services to residents of Lexington and its water and wastewater service areas will be among the lowest for state and municipal borrowers.
We look forward to the opportunities and challenges of continued growth for the Town of Lexington and its water and sewer system.
