Thursday, December 31, 2009
Lawrence County Assigned A+ Bond Rating
Lawrence County has been assigned an A+ bond rating by Standard & Poor’s Rating Services following a recent review.
Standard & Poor’s Rating Services assigned the long
2010 general obligation school refunding and improvement bonds approved by the Lawrence County Board of Commissioners in November.
Standard & Poor’s said the county’s outlook is stable. The previous rating was Baa1. The upgrade represents a favorable change of two levels. This is the first time Lawrence County has received an A+ rating.
Proceeds of the bond will be used to refund previously issued obligations and to finance improvements to the county’s school facilities.
Improvements will be made to expand facilities at Ethridge Summertown elementary schools under a cost county and the school system.
Financial advisors estimate the county will save approximately the refinancing move.
According to County Executive Paul Rosson, this upgraded bond rating is a result of due diligence on the part of the county commission in conjunction with the administration. “Together, we have dealt with many long Rosson said. “I commend the commission and our office of accounts & budgets for keeping an eye upon the future.”
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