S&P issues favorable rating on Unified Government bonds
03/01/2013 4:38 PM
05/16/2014 9:20 PM
Standard & Poor’s Corp. has assigned an investment grade AA rating on Unified Government revenue bonds, and the agency also issued a stable outlook rating on long-term debt.
S&P said its rating outlook “reflects our expectation that given the Unified Government’s revenue-raising flexibility, we expect that management will continue to take the steps necessary to maintain at least good reserves.”
The agency noted, however, that a “higher overall debt burden and lagging economic characteristics, with below-average wealth and income levels, preclude a higher rating within the two-year outlook horizon.”
Earlier this week, Moody’s Investors Service assigned an Aa3 rating to the revenue bonds of the Wyandotte County/Kansas City, Kan., governing body. Moody’s also issued a negative outlook on long-term debt.