CHICAGO - Standard & Poor's has boosted Johnson County, Missouri's issuer credit rating into the A category.
The rating agency upgraded the rating to A-minus from BBB-plus on Monday. The rating on the county's certificates of participation were raised to BBB-plus from BBB. The COPs rating is one notch lower to reflect appropriation risk.
"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 analyst Benjamin Gallovic.
The stable outlook reflects analysts belief that the county will maintain at least adequate budgetary performance, very strong liquidity, and a low debt burden during the two-year outlook horizon.
