Summary: Wamego, Kansas; General Obligation

S&P Global Ratings assigned its 'A+' long-term rating to Wamego, Kan.'s series 2018-1 general obligation (GO) refunding and improvement bonds and series 2018-1 GO temporary notes. At the same time, S&P Global Ratings affirmed its 'A+' long-term rating on the city's existing GO debt. In addition, S&P Global Ratings affirmed its 'A+' long-term rating on Wamego Public Building Commission's revenue bonds, supported by Wamego. The outlook on all ratings is stable. The city's full-faith-credit-and-resources pledge and agreement to levy ad valorem property taxes without limitation as to rate or amount secure the GO bonds and notes. The city also has certain GO bonds payable from special assessments levied on properties that benefit from proceed-paid improvements. We rate the bonds based

...S&P Global Ratings assigned its 'A+' long-term rating to Wamego, Kan.'s series 2018-1 general obligation (GO) refunding and improvement bonds and series 2018-1 GO temporary notes. At the same time, S&P Global Ratings affirmed its 'A+' long-term rating on the city's existing GO debt. In addition, S&P Global Ratings affirmed its 'A+' long-term rating on Wamego Public Building Commission's revenue bonds, supported by Wamego. The outlook on all ratings is stable. The city's full-faith-credit-and-resources pledge and agreement to levy ad valorem property taxes without limitation as to rate or amount secure the GO bonds and notes. The city also has certain GO bonds payable from special assessments levied on properties that benefit from proceed-paid improvements. We rate the bonds based on the city's unlimited-tax-GO pledge, which we view as the stronger pledge. We understand that bond proceeds will be used to construct an aquatic facility. Annual base rental payments, which Wamego agrees to pay...

Summary