...October 5, 2020 CENTENNIAL (S&P Global Ratings) Oct. 5, 2020--S&P Global Ratings assigned its '##+' long-term rating to Monarch Fire Protection District, Mo.'s $12 million series 2020 general obligation (GO) bonds. The outlook is stable. The bond proceeds will be used to pay a portion of the costs of replacing Fire House Nos. 2 and 3 and a 78-foot straight ladder truck. "The rating reflects our assessment of the district's participation in the St. Louis metropolitan area economy and employment base, maintenance of very strong reserves, and low-to-moderate overall debt burden," said S&P Global Ratings credit analyst Coral Schoonejans. The rating also incorporates our view of the health and safety risks posed by the COVID-19 pandemic, which we consider social risk factors. Although the scope of economic and financial challenges posed by the pandemic remains unknown, we believe a prolonged disruption could weaken the district's local economy. Absent the implications of COVID-19, we consider...