S&P Global Ratings raised its ratings on Wamego, Kan.'s general obligation (GO) debt and on Wamego Public Building Commission (PBC), Kan.'s revenue bonds, supported by the city, by one notch to 'AA-' from 'A+', based on consistently strong budgetary performance and the maintenance of very strong cash reserves. At the same time, we assigned our 'AA-' rating to the city's series 2020 GO bonds. 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 those bonds based
