The S&P Global Ratings and Moody’s Investors Service have increased the bond ratings of Lee Country, which is likely to lead to lower interest rates in the expansions of the Central Carolina Community College recently approved by voters.
The county is selling bonds for the community college and is expecting to borrow $34 million to invest in education.
Moody’s analysts cite “the county’s sound financial position, favorable location in the central portion of the state, between major employment centers, affordable debt and pension profiles and prudent management” as its rationale for improving its rating.
Town officials share this optimism and believe this reduced interest rates for borrowing with make the bonds even more attractive to potential investors in the community’s future.
