Standard&Poor's Ratings Services affirmed its 'AAA/A-1+' rating, with a stable outlook, on Kansas Department of Transportation's (KDOT) adjustable-tender highway revenue bonds and its 'AAA' rating, with a stable outlook, on the department's fixed-rate highway revenue bonds. The 'AAA' rating reflects: The strong fiscal 2006 total annual debt service coverage (DSC) of 8.92x, as well as 6.42x DSC excluding federal reimbursements; The department's strong projected coverage through the bonds' life -- Some decline in maximum annual debt service (MADS) coverage, however, will likely occur in fiscals 2010-2015; A diverse and economically resilient pledged revenue stream that is largely made up of motor fuel taxes, registration and license fees, certain state sales taxes, and federal reimbursements; The bonds' very strong
