North Platte, NE GO Bond Outlook Revised To Stable From Negative On Change In Accounting Practices - S&P Global Ratings’ Credit Research

North Platte, NE GO Bond Outlook Revised To Stable From Negative On Change In Accounting Practices

North Platte, NE GO Bond Outlook Revised To Stable From Negative On Change In Accounting Practices - S&P Global Ratings’ Credit Research
North Platte, NE GO Bond Outlook Revised To Stable From Negative On Change In Accounting Practices
Published Mar 13, 2019
3 pages (1382 words) — Published Mar 13, 2019
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Abstract:

CHICAGO (S&P Global Ratings) March 13, 2019--S&P Global Ratings revised its outlook to stable from negative and affirmed its 'A-' rating on North Platte, Neb.'s existing general obligation (GO) debt based on our view of the city's improved unadjusted reserve position. At the same time, S&P Global Ratings assigned its 'A-' rating to the city's series 2019 GO refunding bonds and series 2019 GO various purpose bonds. "The city's recent change in accounting practices with respect to the treatment of certain funds in its general fund has improved its unadjusted reserves," said S&P Global Ratings credit analyst David Smith. "Despite this, the city has reported uneven financial performance in recent years, partly due to difficulties with its municipal golf course,

  
Brief Excerpt:

...CHICAGO (S&P Global Ratings) March 13, 2019--S&P Global Ratings revised its outlook to stable from negative and affirmed its 'A-' rating on North Platte, Neb.'s existing general obligation (GO) debt based on our view of the city's improved unadjusted reserve position. At the same time, S&P Global Ratings assigned its 'A-' rating to the city's series 2019 GO refunding bonds and series 2019 GO various purpose bonds. "The city's recent change in accounting practices with respect to the treatment of certain funds in its general fund has improved its unadjusted reserves," said S&P Global Ratings credit analyst David Smith. "Despite this, the city has reported uneven financial performance in recent years, partly due to difficulties with its municipal golf course, which has historically relied on the general fund for support," Mr. Smith added. The series 2019 GO refunding bonds are being issued to refund the city's series 2013 GO various purpose bonds for interest cost savings. The series 2019...

  
Report Type:

Ratings Action

Issuer
North Platte
Sector
Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "North Platte, NE GO Bond Outlook Revised To Stable From Negative On Change In Accounting Practices" Mar 13, 2019. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/North-Platte-NE-GO-Bond-Outlook-Revised-To-Stable-From-Negative-On-Change-In-Accounting-Practices-2179989>
  
APA:
S&P Global Ratings’ Credit Research. (). North Platte, NE GO Bond Outlook Revised To Stable From Negative On Change In Accounting Practices Mar 13, 2019. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/North-Platte-NE-GO-Bond-Outlook-Revised-To-Stable-From-Negative-On-Change-In-Accounting-Practices-2179989>
  
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