S&P Affirms AA+ Bond Rating for Lynchburg
Lynchburg, VA - There is great financial news for the city of Lynchburg from Standard and Poor's.
The financial services company has affirmed a Double-A Plus (AA+) bond rating for the Hill City.
City Manager Kimball Payne says the rating allows Lynchburg to borrow more money at a lower interest rate.
S&P says it based it's decision on the city's stable economy, flexibility with the budget, and strong financial management.
The AA+ rating is one of the highest ratings a city of Lynchburg's size can achieve.