Standard & Poor's Ratings Services assigned its 'AAA' long-term rating to Johnson County Public Building Commission, Kan.'s series 2011A lease purchase revenue bonds, issued on behalf of Johnson County. Standard & Poor's also affirmed its 'AAA' long-term rating and underlying rating (SPUR) on the commission's lease purchase revenue bonds outstanding, supported by the county. The outlook on all ratings is stable. Annual base rentals secure the bonds and constitute an unconditional obligation of the county. Johnson County has agreed to pay the trustee rentals under the lease, which is not subject to annual renewal. Given the county's unlimited pledge as security for the bonds, the county is responsible for levying taxes, if necessary, to pay debt service on these bonds....
Companies mentioned in this report are:
- Johnson Cnty
- Johnson Cnty Pub Bldg Comm
Action: New Rating
Action: Outlook: Stable
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