Summary: Augusta, Kansas; General Obligation; General Obligation Equivalent Security

S&P Global Ratings assigned its 'AA-' long-term rating to Augusta, Kan.'s series 2016-A general obligation (GO) bonds. At the same time, we affirmed our 'AA-' rating on the city's existing GO debt. The outlook is stable. The bonds are secured by the city's full faith and credit pledge, including ad valorem taxes which may be levied without limitation as to rate or amount upon all the taxable tangible property, real and personal, within the territorial limits of the city. We understand officials will use series 2016-A bond proceeds to finance various capital improvement projects, including road, building, and recreational improvements. The 'AA-' rating reflects our assessment of the following credit factors for the city: Weak economy, with projected per capita

...S&P Global Ratings assigned its '##-' long-term rating to Augusta, Kan.'s series 2016-A general obligation (GO) bonds. At the same time, we affirmed our '##-' rating on the city's existing GO debt. The outlook is stable. The bonds are secured by the city's full faith and credit pledge, including ad valorem taxes which may be levied without limitation as to rate or amount upon all the taxable tangible property, real and personal, within the territorial limits of the city. We understand officials will use series 2016-A bond proceeds to finance various capital improvement projects, including road, building, and recreational improvements. The '##-' rating reflects our assessment of the following credit factors for the city:...

Summary