Standard&Poor's Ratings Services affirmed its 'A' long-term rating on Wamego, Kan.'s general obligation (GO) bonds. The outlook is stable. The rating reflects our view of the city's: Access to Manhattan's broad economic base; Very strong financial position, albeit on a cash basis; and Rapid debt amortization. These strengths are offset by our opinion of the city's: Moderately high overall debt burden as a percentage of market value, and Lack of formalized financial planning and policies. Unlimited ad valorem taxes levied on taxable property within the city secure the GO bonds. Wamego, with an estimated population of 4,238, is in northeast Kansas, about 15 miles east of Manhattan, the home of Kansas State University, and roughly 37 miles west
