Board of Public Buildings, Missouri Missouri; Appropriations; General Obligation

S&P Global Ratings assigned its 'AA+' rating to the Board of Public Buildings, Mo.'s series 2017A special obligation bonds, issued for Missouri. At the same time, S&P Global Ratings affirmed its 'AAA' rating on Missouri's general obligation (GO) bonds outstanding and its 'AA+' rating on the state's appropriation debt outstanding. The series 2017A bonds are payable from the board's net income and revenues, defined as appropriations of the general assembly. The state, acting through the office of administration, covenants and agrees in the bond resolution to request an amount necessary to make debt service payments on the bonds in the succeeding fiscal year be included in the governor's budget submitted to the general assembly with such request, subject to appropriation.

...S&P Global Ratings assigned its '##+' rating to the Board of Public Buildings, Mo.'s series 2017A special obligation bonds, issued for Missouri. At the same time, S&P Global Ratings affirmed its '###' rating on Missouri's general obligation (GO) bonds outstanding and its '##+' rating on the state's appropriation debt outstanding. The series 2017A bonds are payable from the board's net income and revenues, defined as appropriations of the general assembly. The state, acting through the office of administration, covenants and agrees in the bond resolution to request an amount necessary to make debt service payments on the bonds in the succeeding fiscal year be included in the governor's budget submitted to the general assembly with such request, subject to appropriation. Bond proceeds will be used to finance the renovations, improvements, and equipping of state educational facilities. The rating reflects S&P Global Ratings' view of the bonds' appropriation risk, as well as the state's long-term...

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