Standard & Poor's Ratings Services said it raised to AA-minus from A-plus its underlying rating on Seward County, Kan.'s series 2010A general obligation bonds.
The outlook is stable.
"The upgrade is based on our recently released local GO criteria," said Standard & Poor's credit analyst Jim Tchou.
The county's unlimited-tax GO pledge secures the bonds. Management intends to use gross revenues from Southwest Medical Center to pay debt service. A debt service reserve funded at the lesser of 10% of the stated principal amount, maximum annual debt service, or 1.25x average annual debt service, provides additional liquidity.
