...October 31, 2019 NEW YORK (S&P Global Ratings) Oct. 31, 2019--S&P Global Ratings affirmed its '###' long-term rating on the state of Missouri's general obligation (GO) bonds outstanding, and its '##+' rating on the state's appropriation debt outstanding. The appropriation debt rating is based on the application of S&P Global Ratings' "Issue Credit Ratings Linked To U.S. Public Finance Obligors' Creditworthiness" criteria (published Jan. 22, 2018, on Ratings Direct). The outlook is stable. The rating reflects our view of the bonds' appropriation risk, as well as the state's long-term creditworthiness based on the following factors, including its: - Very strong budget management framework, demonstrated by the executive branch's high degree of expenditure flexibility to maintain budget balance; - Maintenance of strong reserves in the form of a budget reserve fund that can only be accessed under limited circumstances; - Relatively diverse economic base and employment growth as evidenced by...
