Johnson County, Mo., Upgraded to A-Minus by S&P

Standard & Poor's Ratings Services said it raised its issuer credit rating to A-minus from BBB-plus on Johnson County, Mo.

At the same time, it raised its long-term rating to BBB-plus from BBB on the county's certificates of participation (COPs). The rating on the COPs is set one notch below the ICR, reflecting the agency's view of annual appropriation risk.

The outlook is stable.

"The rating action reflects our view of the county's improved budgetary performance, following better-than-projected operating results in fiscal years 2013 and 2014, as well as an increase in available reserves," said Standard & Poor's credit analyst Benjamin Gallovic.

The stable outlook reflects the belief the county will maintain at least adequate budgetary performance, very strong liquidity, and a low debt burden during the two-year outlook horizon.

For reprint and licensing requests for this article, click here.
MORE FROM BOND BUYER