...June 13, 2024 NEW YORK (S&P Global Ratings) June 13, 2024--S&P Global Ratings assigned its '##' long-term rating to the Kansas Department of Transportation's (KDOT) pro forma $694.5 million series 2024A highway revenue and refunding bonds. At the same time, we affirmed our '##' rating and underlying rating (SPUR) on KDOT's $825 million highway revenue bonds outstanding. The outlook is positive, reflecting the outlook on the state general obligation (GO) rating. The bonds are special obligations of the state and are payable and collectible solely from the revenues in the state highway fund and transferred to the highway bond debt service fund. "The series 2024A bond proceeds will be used to pay a portion of the costs of construction, reconstruction, maintenance, or improvement of highways in the state by KDOT under the Eisenhower Legacy Transportation Program; refund all of KDOT's series 2010A and 2014A highway revenue bonds outstanding; and pay costs of issuance," said S&P Global Ratings...
