Oak Grove, MO GO Debt Rating Raised To 'AA-', COP Rating Raised To 'A+'; Removed From Under Criteria Observation - S&P Global Ratings’ Credit Research

Oak Grove, MO GO Debt Rating Raised To 'AA-', COP Rating Raised To 'A+'; Removed From Under Criteria Observation

Oak Grove, MO GO Debt Rating Raised To 'AA-', COP Rating Raised To 'A+'; Removed From Under Criteria Observation - S&P Global Ratings’ Credit Research
Oak Grove, MO GO Debt Rating Raised To 'AA-', COP Rating Raised To 'A+'; Removed From Under Criteria Observation
Published Feb 13, 2025
2 pages (1111 words) — Published Feb 13, 2025
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Abstract:

CHICAGO (S&P Global Ratings) Feb. 13, 2025--S&P Global Ratings raised its ratings on Oak Grove, Mo.'s outstanding general obligation (GO) bonds to 'AA-' from 'A+' and the city's certificates of participation (COPs) to 'A+' from 'A', and removed the rating from under criteria observation. The outlook is stable. "The upgrade reflects the application of our 'Methodology For Rating U.S. Governments,'" said S&P Global Ratings credit analyst Scott Nees. The criteria were published Sept. 9, 2024, on RatingsDirect. Oak Grove's GO debt is secured by an unlimited-tax GO pledge, while its COPs are secured by lease rental payments from legally available funds, subject to annual appropriation. The COPs are one notch below the GO rating to reflect risk of nonappropriation. "The

  
Brief Excerpt:

...February 13, 2025 CHICAGO (S&P Global Ratings) Feb. 13, 2025--S&P Global Ratings raised its ratings on Oak Grove, Mo.'s outstanding general obligation (GO) bonds to '##-' from 'A+' and the city's certificates of participation (COPs) to 'A+' from 'A', and removed the rating from under criteria observation. The outlook is stable. "The upgrade reflects the application of our 'Methodology For Rating U.S. Governments,'" said S&P Global Ratings credit analyst Scott Nees. The criteria were published Sept. 9, 2024, on RatingsDirect. Oak Grove's GO debt is secured by an unlimited-tax GO pledge, while its COPs are secured by lease rental payments from legally available funds, subject to annual appropriation. The COPs are one notch below the GO rating to reflect risk of nonappropriation. "The stable outlook reflects our view that the city's operating budget has room to accommodate salary adjustments related to its recent police contract settlement without producing a long-term imbalance, and we expect...

  
Report Type:

Ratings Action

Issuer
Oak Grove
Sector
Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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MLA:
S&P Global Ratings’ Credit Research. "Oak Grove, MO GO Debt Rating Raised To 'AA-', COP Rating Raised To 'A+'; Removed From Under Criteria Observation" Feb 13, 2025. Alacra Store. Nov 06, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Oak-Grove-MO-GO-Debt-Rating-Raised-To-AA-COP-Rating-Raised-To-A-Removed-From-Under-Criteria-Observation-3323368>
  
APA:
S&P Global Ratings’ Credit Research. (). Oak Grove, MO GO Debt Rating Raised To 'AA-', COP Rating Raised To 'A+'; Removed From Under Criteria Observation Feb 13, 2025. New York, NY: Alacra Store. Retrieved Nov 06, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Oak-Grove-MO-GO-Debt-Rating-Raised-To-AA-COP-Rating-Raised-To-A-Removed-From-Under-Criteria-Observation-3323368>
  
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