S&P Global Ratings assigned its 'AA+' long-term rating to Clay County School District No. 74 (North Kansas City), Mo.'s series 2016B general obligation (GO) improvement bonds. The outlook is stable. In 1995, the Missouri Legislature adopted Senate Bill 301, which established a program to assist Missouri school districts with their financing needs. This rating moves in tandem with the state GO rating, keeping the relative rating differential between the program and state GO rating constant. Any school district is eligible to apply to the state to use the program as an additional bond security. Program guidelines specifically exclude any type of obligation other than GO bonds. Conditions for state approval include a state aid coverage requirement plus the district entering
