Missouri Development Finance Board's Series 2016A Bonds Rated 'AA+'; Missouri GO Debt Affirmed At 'AAA'

NEW YORK (Standard&Poor's) Feb. 24, 2016--Standard&Poor's Ratings Services has assigned its 'AA+' rating and stable outlook to the Missouri Development Finance Board's series 2016A bonds for the State Historical Society Project, which are secured by payments from the State of Missouri and are subject to annual appropriations. At the same time, Standard&Poor's affirmed its 'AAA' rating on Missouri's general obligation (GO) bonds outstanding and its 'AA+' rating on the state's appropriation debt outstanding. The outlook on the ratings is stable. "The ratings reflect our assessment of Missouri's very strong budget management framework and maintenance of strong reserves in the form of a budget reserve fund that can only be accessed under limited circumstances," said

...NEW YORK (Standard & Poor's) Feb. 24, 2016--Standard & Poor's Ratings Services has assigned its '##+' rating and stable outlook to the Missouri Development Finance Board's series 2016A bonds for the State Historical Society Project, which are secured by payments from the State of Missouri and are subject to annual appropriations. At the same time, Standard & Poor's affirmed its '###' rating on Missouri's general obligation (GO) bonds outstanding and its '##+' rating on the state's appropriation debt outstanding. The outlook on the ratings is stable. "The ratings reflect our assessment of Missouri's very strong budget management framework and maintenance of strong reserves in the form of a budget reserve fund that can only be accessed under limited circumstances," said Standard & Poor's credit analyst Eden Perry. The ratings also reflect what we view as the state's: + Diverse economic base and employment growth as evidenced by unemployment levels that consistently trend lower than the U.S.;...

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