S&P Global Ratings has assigned its 'A' underlying rating to Holden R-III School District of Johnson County, Mo.'s general obligation (GO) bonds series 2022. The district's GO debt is backed by its full faith, credit, and unlimited ad valorem taxing pledge. Holden R-III School District is a relatively small district southeast of Kansas City, Mo. While the district's key economic factors have remained limited, district officials note the near-term inclusion of a power plant (Associated Electric Cooperative) that will be recognized on the tax rolls starting in fiscal 2023. The power plant has not been included in the past, due to a 20-year payment in lieu of taxes agreement. It is anticipated the locally assessed valuation revenue will be significantly
