Fitch and Standard & Poor’s have both affirmed the City of Lewisville’s “AAA” ratings on its general obligation debt and its water and sewer revenue bond debt. This AAA rating is the highest possible credit rating given by both Standard & Poor’s and Fitch. This is a reaffirmation of the AAA rating the City first achieved in 2013 and has received every year since.
A municipal credit rating is seen as a measure of an issuer’s overall fiscal health. According to information provided by the rating agencies, factors leading to Lewisville’s AAA ratings included:
- Adequate economy, with access to the broad and diverse Dallas-Fort Worth-Arlington metropolitan area;
- Very strong management, with “Strong” financial policies and practices;
- Strong budgetary performance, with balanced operating results in the general fund and an operating surplus at the total governmental fund level;
- Very strong budgetary flexibility;
- Very strong liquidity;
- Adequate debt and contingent liability position;
- Strong institutional framework score
The City of Lewisville is selling $15,670,000 in General Obligation Refunding and Improvement Bonds, $8,875,000 in Tax Notes, and $11,565,000 in Waterworks and Sewer System Revenue Refunding and Improvement Bonds. The bonds will be sold in $5,000 increments. Qualified individuals with a Lewisville ZIP code will be given priority to buy these bonds.
The proposed bonds issuances will be sold and approved by City Council on Monday, June 6.
For more information on these bonds, please call Raymond James at 800.367.4551