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Lexington gets double‑A ratings, plans spring bond sale to fund capital projects
Summary
Financial advisers and rating agencies assigned Lexington double‑A credit ratings; city staff and Davenport outlined a planned bond sale in March to fund capital projects and described expected interest‑rate ranges and next steps.
Lexington officials on Feb. 13 reported that national credit agencies assigned the city double‑A ratings and that the city and its financial advisor plan to sell general‑obligation bonds in March to finance capital projects approved in the capital improvement program.
David Rhodes of Davenport presented the results of the rating outreach and described the planned timetable for a competitive bond sale. Rhodes said the rating agencies cited Lexington’s structurally balanced budgets, a robust unassigned fund balance (a “rainy‑day” fund), and the presence…
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