Standard&Poor's Ratings Services assigned its 'AA+' rating to the state of the Missouri Board of Public Buildings series A 2016 special obligation bonds, which are secured by payments from the state of Missouri and are subject to annual appropriations. The outlook is stable. The rating reflects our view of: Missouri's general creditworthiness (AAA/Stable general obligation rating), The state's demonstrated commitment to repaying its appropriations-backed obligations, and The importance of appropriation debt to Missouri's overall capital bonding structure. Debt service payments on the series A 2016 bonds are payable from the board's net income and revenues, defined as appropriations of the general assembly. The state, acting through the office of administration, covenants and agrees in the bond resolution to
