...August 19, 2020 CHICAGO (S&P Global Ratings) Aug. 19, 2020--S&P Global Ratings affirmed its 'A-' long-term rating on the city of North Platte, Neb.'s general obligation (GO) bonds, then removed the rating from CreditWatch with negative implications, where it had been placed on May 21, 2020. The outlook is stable. "Following our previous report that placed the city on CreditWatch with negative implications, we received sufficient information regarding city's finances and fiscal planning in response to the COVID-19 pandemic and related recession," said S&P Global Ratings credit analyst David Smith. "Therefore, we have removed the city's rating from CreditWatch," Mr. Smith added. While the city has experienced positive operations in the past two audited fiscal years, reflecting an improvement in its municipal golf fund, the city now is encountering revenue shortfalls associated with the COVID-19 pandemic and ongoing recession. In response, city officials indicate that they have made significant...
