Standard & Poor's Ratings Services raised its standard long-term rating and underlying rating (SPUR) on Olathe, Kan.'s general obligation (GO) bonds to 'AA+' from 'AA'. The outlook is stable. The upgrade reflects the city's continued tax base growth and diversification, coupled with the maintenance of very strong general fund balance reserves. The rating action affects roughly $170 million of GO debt. In addition, Standard & Poor's assigned its 'AA+' rating, and stable outlook, to the city's series 211 GO bonds. The ratings reflect the city's: Participation in the strong Kansas City MSA, Economic diversification through ongoing commercial and industrial development, Very strong wealth and income levels, Establishment of policies and procedures to ensure it will address continued growth in a...
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Action: New Rating
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