Standard & Poor’s on Tuesday raised its rating on the town of Apex’s outstanding general obligation bonds to AA-plus from AA. The upgrade affects $10.8 million of outstanding GOs. The outlook is stable.
The town is planning to issue $12.5 million of additional debt over the next two years to fund capital projects. Standard & Poor’s assigned the AA-plus rating to the upcoming sale of $2.5 million of GOs for parks and recreational facilities. Details about the sale were not immediately available.