...S&P Global Ratings assigned its 'A+' long-term rating to Dodge City, Kan.'s series 2016-B general obligation (GO) refunding and improvement bonds. At the same time, S&P Global Ratings affirmed its 'A+' rating on the city's existing GO debt. The outlook is stable. Dodge City's full-faith-and-credit GO pledge, which includes an unlimited ad valorem tax, secures the 2016-B bonds. In addition to the city's GO pledge, the existing series 2012-A bonds are payable from a subordinate lien on net revenues of the city's waterworks and wastewater utility system as. The series 2012-B bonds are also payable from special assessments levied upon property that benefited from the public improvement projects those bonds financed. We rate the series 2012-A and B bonds 'A+' based on Dodge City's unlimited ad valorem tax pledge, which we view to be stronger. The series 2016-B bond proceeds will finance various capital improvement projects and refund a portion of the city's existing debt for interest rate savings....
