Summary: Missouri Development Finance Board Missouri; Appropriations; General Obligation

S&P Global Ratings assigned its 'AA+' rating and stable outlook to the Missouri Development Finance Board's series 2016 State of Missouri annual appropriation bonds for the Fulton State Hospital Project, which are secured by payments from Missouri and are subject to annual appropriations. At the same time, S&P Global Ratings affirmed its 'AAA' rating on Missouri's general obligation (GO) bonds outstanding and its 'AA+' rating on the state's appropriation debt outstanding. The outlook on the ratings is stable. The series 2016 annual appropriation bonds are secured under a bond trust indenture from payments made under the finance agreement subject to annual appropriation by the state. The indenture provides that the state's Office of Administration will seek through the governor's budget

...S&P Global Ratings assigned its '##+' rating and stable outlook to the Missouri Development Finance Board's series 2016 State of Missouri annual appropriation bonds for the Fulton State Hospital Project, which are secured by payments from Missouri and are subject to annual appropriations. At the same time, S&P Global Ratings affirmed its '###' rating on Missouri's general obligation (GO) bonds outstanding and its '##+' rating on the state's appropriation debt outstanding. The outlook on the ratings is stable. The series 2016 annual appropriation bonds are secured under a bond trust indenture from payments made under the finance agreement subject to annual appropriation by the state. The indenture provides that the state's Office of Administration will seek through the governor's budget request to the general assembly each fiscal year amounts sufficient to pay the amount of principal and interest due that year. The budget request is subject to appropriation by the general assembly. We understand...

Summary