S&P Global Ratings assigned its ‘A+’ long-term rating to the City of Oak Grove , Missouri’s approximately $6.3 million series 2026 certificates of participation (COPs). At the same time, we affirmed our ‘AA-’ long-term rating on the city’s general obligation (GO) debt outstanding and our ‘A+’ long-term rating on Oak Grove’s appropriation debt outstanding. The outlook is stable. Lease rental payments by the city, as lessee, to the lessor secure the COPs. We rate the COPs one notch lower than Oak Grove's general creditworthiness, as reflected by the GO rating, to account for the annual appropriation risk associated with the lease payments. The city has pledged to include rental payments in its operating budgets, and it considers the affordability of
