Standard&Poor's Ratings Services assigned its 'AAA' long-term rating, and stable outlook, to the Kansas Department of Transportation's (KDOT) taxable highway revenue refunding bonds series 2012A-1, series 2012A-2, and series 2013A-3. In addition, Standard&Poor's affirmed its 'AAA' rating and underlying rating (SPUR) on KDOT's $1.67 billion of long-term highway revenue bonds outstanding. The outlook is stable. The 'AAA' long term ratings reflect what we view as: A statewide economic base generating pledged highway user tax revenues; Strong 7.9x coverage of maximum annual debt service (MADS) by total fiscal 2011 state pledged revenues in the State Highway Fund, and 4.2x coverage by state-derived taxes and fees only; A diverse set of transportation-related revenues in the pledged revenue stream,
