Summary: Dodge City, Kansas; General Obligation; Note

S&P Global Ratings assigned its 'A+' long-term rating to Dodge City, Kan.'s series 2020A general obligation (GO) bonds and affirmed its 'A+' long-term rating and underlying rating (SPUR) on the city's existing GO debt. The outlook is stable. S&P Global Ratings also assigned its 'SP-1+' short-term rating to the city's series 2020-1 GO temporary notes and 2020-2 taxable GO temporary notes and affirmed its 'SP-1+' short-term rating on the city's existing notes. Dodge City's full-faith-and-credit pledge secures the GO bonds and notes, which are a GO of the city. Certain GO bonds and notes are also payable from special-assessment taxes levied for improvements financed with bond and note proceeds. Despite the dual pledge, we rate the bonds and notes to

...S&P Global Ratings assigned its 'A+' long-term rating to Dodge City, Kan.'s series 2020A general obligation (GO) bonds and affirmed its 'A+' long-term rating and underlying rating (SPUR) on the city's existing GO debt. The outlook is stable. S&P Global Ratings also assigned its 'SP-1+' short-term rating to the city's series 2020-1 GO temporary notes and 2020-2 taxable GO temporary notes and affirmed its 'SP-1+' short-term rating on the city's existing notes. Dodge City's full-faith-and-credit pledge secures the GO bonds and notes, which are a GO of the city. Certain GO bonds and notes are also payable from special-assessment taxes levied for improvements financed with bond and note proceeds. Despite the dual pledge, we rate the bonds and notes to the strength of the city's GO pledge, which we view as the stronger pledge. Officials intend to use series 2020A bond proceeds to finance street improvements, water and sewer improvements, and improvements to the YMCA building. The short-term rating...

Summary