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.

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