TOPEKA, Kan. (AP) — A major financial rating agency says a structural imbalance in Kansas' budget is "likely to persist" even after the state increased income taxes to help close projected shortfalls.

The report this week from S&P Global Ratings highlighted the state's plans to continue diverting highway funds to other spending and to keep shorting contributions to public pensions. Those moves were crucial to balancing the state budget through June 2019, even with the tax increase expected to raise $1.2 billion in new revenue over two years.

"While the state has boosted ongoing revenues throug...