Moody's Investors Service

Aa2

Revenue

Outlook
Not Assigned
Date
Dec 2017
Label
2017 Water & Sewage Revenue Bonds
Notes

Moody's Investors Service has assigned a Aa2 rating to the City of Lawrence, Kansas' Water and Sewer Enterprise Water and Sewage System Improvement and Refunding Revenue Bonds, Series 2017 in the expected amount of $18.6 million. Moody's maintains the Aa2 rating on the system's $169.8 million of outstanding parity debt.

The Aa2 rating reflects the system's stability, which is provided in part by its largest customer, the University of Kansas, solid financial operations and a history of annual rate increases that supports the ongoing capital improvement plan. Also considered is the history of healthy debt service coverage and adequate legal covenants.

Aa1

General Obligation

Outlook
Not Assigned
Date
Apr 2017
Notes

$3.16 million General Obligation Improvement Bonds, Series 2017-A, the $11.375 million General Obligation Energy Improvement Bonds, Series 2017-B, and the $654,000 General Obligation Improvement Bonds, Series 2017-C.

Aa2

Revenue

Outlook
Not Assigned
Date
Jun 2016
Notes

$67.5M Series 2016-A Water & Sewage System Rev. Bonds

Aa1

General Obligation

Outlook
Not Assigned
Date
Jun 2016
Notes

$15.1M Series 2016-A GO Bonds

Aa1

General Obligation

Outlook
Not Assigned
Date
Aug 2015
Notes

KS's $9.6M GO Bonds Ser. 2015-A and MIG 1 to $10.9M Ser. 2015-1 GO Notes

Aa2

Revenue

Outlook
Not Assigned
Date
Jul 2015
Notes

$9.73M Water & Sewage System Rev. Ref. Bonds

Aa2

Revenue

Outlook
Not Assigned
Date
Apr 2015
Notes

$90.7M Water & Sewage System Revenue Bonds

Analysts

Denise Rappmund
Email:
denise.rappmund@moodys.com
Phone:
(214) 979-6865
Rodger Brown
Email:
rodger.brown@moodys.com
Phone:
(214) 979-6840