Moody gives Town of Lexington “highest quality short term rating”

Moody’s Rating

Issue: Revenue Bond Anticipation Notes, Series 2015; Rating: MIG 1; Sale Amount: $4,150,000; Expected Sale Date: 05-19-2015; Rating Description: Note: Bond Anticipation

Moody’s Investors Service has assigned a MIG 1 rating to the Town of Lexington’s (SC) $4.2 million Revenue Bond Anticipation Notes, Series 2015 dated on or about May 28, 2015 and due May 15, 2016, issued by the Saxe Gotha-Lexington Public Facilities Corporation. Concurrently, Moody’s has affirmed the Aa2 underlying rating on the town’s $1.2 million of outstanding general obligation debt.


Assignment of Moody’s highest quality short term rating reflects our expectation that the town will be able to refinance the notes at maturity, given a sound underlying credit quality and liquid financial position. The Aa2 rating reflects the town’s sizeable tax base, above average wealth indices, history of sound financial operations and low debt burden.


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