S&P Global Ratings assigned its 'AA' long-term rating to the Kansas Department of Transportation 's (KDOT) pro forma $725.615 million series 2025A highway revenue and refunding bonds. At the same time, we affirmed our 'AA' rating on KDOT's parity highway revenue bonds outstanding. The outlook is stable. The bonds are special obligations of the state and are payable and collectible solely from the revenues in the state highway fund and transferred to the highway bond debt service fund. The owners of the bonds may not look to the state general fund or any other fund of the state for payment, and the bonds will not be considered or held to be general obligations (GOs) of the state. The state highway
