Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating to AA-minus from A-plus on Lexington, Tenn.'s existing general obligation debt.
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The outlook is stable.
"The raised rating reflects our view of the city's very strong reserve levels as well as its strong budgetary performance," said Standard & Poor's credit analyst Sarah Smaardyk. "The rating further reflects our view that the city's budgetary flexibility and liquidity will remain very strong and will continue to provide stability for the next two years."
Lexington has an estimated population of 7,956 and is the seat of Henderson County. Lexington is just east of Jackson along interstate Highway 40.
