Missouri Missouri Board of Public Buildings; Appropriations; General Obligation

S&P Global Ratings assigned its 'AA+' rating to the Board of Public Buildings, Mo.'s series A 2018 special obligation bonds, issued for Missouri, based on the application of its "Issue Credit Ratings Linked To U.S. Public Finance Obligors? Creditworthiness" criteria (published Jan. 22, 2018, on RatingsDirect). At the same time, we affirmed our 'AAA' rating on Missouri's general obligation (GO) bonds outstanding and our 'AA+' rating on the state's appropriation debt outstanding. The outlook is stable. The series A 2018 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

...S&P Global Ratings assigned its '##+' rating to the Board of Public Buildings, Mo.'s series A 2018 special obligation bonds, issued for Missouri, based on the application of its "Issue Credit Ratings Linked To U.S. Public Finance Obligors' Creditworthiness" criteria (published Jan. 22, 2018, on RatingsDirect). At the same time, we affirmed our '###' rating on Missouri's general obligation (GO) bonds outstanding and our '##+' rating on the state's appropriation debt outstanding. The outlook is stable. The series A 2018 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 repairs...

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