...S&P Global Ratings assigned its '##-' long-term rating to Platte County R-III School District Building Corp., Mo.'s series 2016 leasehold revenue bonds, issued for the Platte County R-III School District. At the same time, S&P Global Ratings affirmed its '##-' long-term rating on the district's leasehold revenue bonds outstanding as well as its '##' long-term rating and underlying rating (SPUR) on the district's existing general obligation (GO) debt. The outlook on all ratings is stable. The leasehold revenue bonds represent an interest in lease rental payments under lease agreements and trust indentures, which are subject to annual appropriation. The district has pledged to appropriate lease rental payments annually during its budget-approval process. There will be no debt service reserve funded for the bonds, but lease payment dates are scheduled to occur more than three months after the fiscal year end, providing what we consider ample cushion to accommodate a delayed budget passage....
