...January 8, 2020 NEW YORK (S&P Global Ratings) Jan. 8, 2020--S&P Global Ratings raised its ratings on Wamego, Kan.'s general obligation (GO) debt and on Wamego Public Building Commission, Kan.'s revenue bonds, supported by the city, by one notch to '##-' from 'A+', based on consistently strong budgetary performance and the maintenance of very strong cash reserves. At the same time, we assigned our '##-' rating to the city's series 2019 GO bonds. The outlook on all ratings is stable. "The '##-' rating reflects our opinion of the city's weak economy, with market value per capita of $66,790 and projected per capita effective buying income at 93.2% of the national level," said S&P Global Ratings credit analyst Jim Tchou. The rating also reflects our opinion of the city's: - Adequate management, with standard financial policies and practices under our Financial Management Assessment methodology; - Strong budgetary performance, with operating surpluses in the general fund and at the total governmental...
