Lawrenceburg Rated "AA Stable" By S&P Global Ratings Scale

Tuesday, May 14th, 2019 9:32am

By City of Lawrenceburg Clerk-Treasurer's Office, news release

AA Stable Level awarded to Lawrenceburg for the county is below the national unemployment rate.

File photo

(Lawrenceburg, Ind.) - The City of Lawrenceburg is proud to announce that Standard & Poors Global Ratings has placed the City at an AA Stable level. They noted that, "...Lawrenceburg's records of very strong debt; stable financial operations; and maintenance of very strong cash-based reserves, backed by prudent financial management, support credit quality."

They also noted the rating was based on, "Strong economy, with access to a broad and diverse metropolitan statistical area (MSA), strong management, with good financial policies and practices under our Financial Management Assessment (FMA) methodology, very strong budgetary flexibility, with high available cash-based reserves in fiscal 2018 at 143% of operating expenditures, very strong liquidity, which we expect will likely remain very strong, very strong debt-and-contingent-liability position, with no debt service paid from governmental funds and net direct debt that is 16.5% of total governmental fund revenues; and strong institutional framework score."

S&P also noted that the local economy was very strong with employers such as Hollywood Casino and Highpoint Health. The county was below the national unemployment rate. 

S&P stated that, "The stable outlook reflects S & P Global Ratings' opinion of Lawrenceburg's very strong budgetary flexibility and liquidity. We think Lawrenceburg's very strong debt-and-liability profile provides further rating stability. Therefore, we do not expect to change that rating during the outlook's two-year period."

The full S&P global report will be made available on the Clerk-Treasurer's web site by the end of the week. 

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