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LCSWA’s AA bond rating affirmed

Global ratings agency Standard & Poor’s Corporation has affirmed the ‘AA-‘ long-term credit rating of the Lamar County Regional Solid Waste Management Authority. The rating outlook was also affirmed as ‘Stable’, reflecting Standard & Poor’s expectation that the rating will not change during the next two years. The Authority was first rated in 2010 in connection with the issuance of revenue bonds to refinance existing obligations and fund capital improvements. Municipal bond credit ratings are periodically reviewed and can be adjusted based on updated financial, economic and operating information. The Standard & Poor’s rating report identified a sound financial profile, attractive tip fees, ample capacity and manageable capital improvement needs as credit strengths of the Authority. The chairman of the Solid Waste Authority Board of Directors is City of Milner Mayor Joe Bostwick who said ‘our team continually focuses on improving financial performance, operating efficiency and customer service. It is reassuring to see those efforts recognized by Standard & Poor’s.’ Authority executive director Johnny Poore worked closely with Tony King of Kidwell & Company on the rating review. Kidwell & Company serves as municipal advisor to the Authority. The Lamar County Regional Solid Waste Management Authority was founded in 1993 and provides landfill management and curbside garbage collection service to approximately 3,100 households in unincorporated Lamar County and the City of Milner.

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