...S&P Global Ratings has assigned its 'SP-1+' short-term rating to Dodge City, Kan.'s series 2017-1 general obligation (GO) temporary notes. At the same time, S&P Global Ratings affirmed its 'A+' rating on the city's long-term GO debt outstanding. The outlook is stable. The short-term rating reflects our view of Dodge City's long-term rating and low market-risk profile, including the authority to issue take-out debt and the availability of pertinent disclosure information. Kansas state law requires the authorization of long-term take-out GO debt before the issuance of temporary notes. Dodge City's full-faith-and-credit pledge secures the notes, which are a GO of the city. The notes are also payable from special assessment taxes to be levied on improvements that will be financed with the note proceeds. Despite the dual pledge, we rate to the strength of the city's GO pledge, which we view as stronger. The series 2017-1 note proceeds will finance the city's housing and commercial development,...
