S&P Global Ratings assigned its 'AA-' long-term rating and stable outlook to Johnson County Unified School District No. 231 (Gardner-Edgerton), Kan.'s series 2016B general obligation (GO) refunding bonds and affirmed its 'AA-' long-term rating and underlying rating (SPUR), with a stable outlook, on the district's existing GO debt. The district pledges its full faith, credit, and resources to secure the bonds. Officials intend to use series 2016B bond proceeds to refund a portion of the district's series 2006B GO refunding and improvement bonds. The rating reflects our opinion of the following factors for the district, including its: Access to the strong and diverse Kansas City, Mo. metropolitan area economy; Strong cash reserves, albeit on a cash basis; and Limited enrollment-driven