Bond agencies again affirm city’s bond rating

Once again, the nation’s two top bond rating agencies, Standard & Poor’s Global Ratings and Moody’s Investors Service, have affirmed Lexington’s AA bond rating with a stable outlook, reflecting no change from the city’s previous rating. 

“In recent years, our city budget has weathered a pandemic, a changing labor market, and the ups and downs of federal funding. Through it all we have maintained a solid, unchanging bond rating,” Mayor Linda Gorton said. “This rating confirms our commitment to strong and careful fiscal management.”

The announcement means that Lexington will be able to continue to borrow money at a low rate. Each year, the City bonds various capital projects, such as vehicle purchases, paving and construction.

The bond rating agency’s report cited Lexington’s presence as a “regional economic center in the heart of Kentucky’s Bluegrass region, anchored by a mix of large employers in both private and public sectors.”

In reaffirming a stable outlook, Standard & Poor’s noted Lexington’s “proactive and conservative financial policies and practices.” The agency also cited Lexington’s strong management and growing economic base.  

Moody’s rating reflects Lexington’s “growing revenues and proactive management.” The agency referenced the City’s significant institutional presence. 


You may also like...

Link to City celebrates Earth Day
Apr. 19, 2024 8:35 am

City celebrates Earth Day

Environmental Services joined Mayor Linda Gorton as she declared April 22 “Earth Day” in Lexington and announced activities.
Link to Spring mulch giveaway on Saturday, April 20
Apr. 18, 2024 5:10 pm

Spring mulch giveaway on Saturday, April 20

This year’s spring mulch giveaway for Lexington residents will be held on Saturday, April 20.

Link to Intersection of Gainesway Drive and Greentree Road to be closed
Apr. 18, 2024 5:01 pm

Intersection of Gainesway Drive and Greentree Road to be closed

After delays due to recent severe weather, sanitary sewer construction has finally reached the intersection of Gainesway Drive and Greentree Road.