S&P Global Ratings assigned its 'AAA' long-term rating to the City of Overland Park, Kan.'s general obligation (GO) series 2022A bonds ($19.8 million). At the same time, we affirmed our 'AAA' rating on the city's GO debt outstanding. The outlook is negative. Overland Park's full-faith-and-credit pledge, including an unlimited ad valorem tax levied on all taxable property, secures the GO bonds. The bond proceeds will be used to fund public safety and street improvements. A portion of the city's GO debt outstanding is also payable, in part, from special assessments levied on property that benefited from improvements financed by the previously issued bonds. Our rating on these obligations is based on the city's GO pledge and we do not separately
