S&P Global Ratings revised its outlook to stable from negative and affirmed its 'AAA' rating on the City of Overland Park, Kan.'s general obligation (GO) bonds. The outlook revision is due to the current mitigation of risk management and economic concerns related to the city's approach to managing Overland Park Development Corp. (OPDC) revenue bonds given improved hotel tax receipts that reduce the risk of default. Overland Park's full-faith-and-credit pledge, including an unlimited ad valorem tax levied on all taxable property, secures the city's outstanding GO bonds. 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
