...Standard & Poor's Ratings Services assigned its '##+' rating and stable outlook to Washington County K-14 School District (Kingston), Mo.'s series 2016 general obligation (GO) bonds and affirmed its '##+' rating, with a stable outlook, on the district's existing GO debt. The rating reflects our opinion of the district's eligibility for, and participation in, the Missouri Direct Deposit of State Aid program, under which the state makes direct deposits of portions of monthly state aid payments to a bond trustee. The program enhances local school district GO bonds and provides for a first-dollar claim on monthly state aid, which the district will directly deposit to a master bond trustee. State aid covers maximum annual program debt service at a minimum of 1.5x. The district has entered into an irrevocable direct deposit agreement with the state treasurer, department of elementary and secondary education, health and educational facilities authority, and deposit trustee. The direct deposit...
