S&P Global Ratings affirmed its 'A+' rating on Wyandotte County/Kansas City Unified Government, Kan.'s series 2014 sales tax special obligation revenue refunding bonds, issued for the Kansas International Speedway project. The outlook is stable.
S&P Global Ratings affirmed its 'BBB' rating on Wyandotte County/Kansas City Unified Government, Kan.'s series 2015B subordinate-lien sales tax special obligation revenue bonds, issued for Vacation Village project areas 1 and 2A. The outlook is stable.
The credit profile of the Unified Government of Wyandotte County/Kansas City, KS (A1 stable) benefits from a large tax base that serves as the regional economic center for northeastern Kansas (Aa2 stable) as well as stable financial operations. Recent updates to the Unified Government's (UG) financial policies, including increasing the formal general fund reserve requirement to 17% of the subsequent year's appropriations from the previous policy of 10%, will aid in maintaining adequate general fund reserves and liquidity. These attributes are weighed against the UG's high debt and pension burdens as well as below average resident income levels.