Summary: Ford County, Kansas; General Obligation; General Obligation Equivalent Security

S&P Global Ratings assigned its 'A+' long term rating to Ford County, Kan.'s estimated $8.5 million series 2024-A general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its 'A+' long-term rating on the Ford County Public Building Commission's previously issued GO-equivalent debt, supported by the county. The outlook is stable. The county's full faith and credit, including revenue from an unlimited ad valorem tax levied on taxable property, secures the 2024-A GO bonds. Proceeds will be used to finance a portion of the costs of certain public improvements and to retire the privately placed series 2022-1 and 2023-1 GO temporary notes. Annual rental payments by the county to the paying agent--payable, but not subject to annual renewal, by

...Most recent Historical information 2022 2021 2020 Very weak economy Projected per capita EBI as % of U.S. 76 Market value per capita ($) 75,311 Population 34,147 33,045 33,292 33,563 County unemployment rate (%) 2.1 2.1 2.2 3.3 Market value ($000s) 2,571,631 2,310,025 2,244,838 1,951,944 Ten largest taxpayers as % of taxable value 18.7 Adequate budgetary performance Operating fund result as % of expenditures 1.0 4.2 (4.9) Total governmental funds result as % of expenditures 28.8 16.2 3.1 Very strong budgetary flexibility Available reserves as % of operating expenditures 75.1 70.3 63.6 Total available reserves ($000s) 15,396 13,602 11,245 Very strong liquidity Total government cash as % of governmental funds expenditures 114 86 57 Total government cash as % of governmental funds debt service 3,236 2,379 1,992 Adequate management Financial management assessment Standard Strong debt and long-term liabilities Debt service as % of governmental funds expenditures 3.5 3.6 2.8 Net direct debt as...

Summary