Lenexa received AAA(Aaa)/Stable ratings for the authorized issuance of its Series 2022A General Obligation bonds in early August 2022. Strong bond ratings help the City save tax dollars when issuing debt for capital projects.

The City issued approximately $9.7 million in General Obligation debt for four capital projects. $5 million will be used to finance the new Lenexa Justice Center and $4.7 million will be used to finance stormwater improvements. The credit rating services re-affirmed Lenexa’s strong credit ratings on its outstanding debt with strong comments.

Standard & Poor’s assigned Lenexa a credit rating of “AAA/Stable” and indicated Lenexa’s “healthy budgetary performance and a history of maintaining very strong reserves and liquidity” and the City’s “robust and growing economy” with a “tax base (that) continues to grow in line with robust commercial and residential activity.”

Moody’s assigned Lenexa a credit rating of “Aaa” and cited the City’s “sizeable tax base” and “healthy operating reserves” as strengths in their credit rating analysis.

“Fiscal responsibility is always at the forefront of our policies and decision making,” said Chief Financial Officer Nate Blum. “These outstanding ratings reaffirm Lenexa’s tradition of smart, practical financial management.”

Published Aug. 5, 2022