...November 6, 2024 DALLAS (S&P Global Ratings) Nov. 6, 2024--S&P Global Ratings raised its long-term rating to 'A+' from 'A' on North Platte, Neb.'s general obligation (GO) debt outstanding. We also assigned our 'A+' long-term rating to the city's anticipated $9.5 million series 2024 tax-supported municipal improvement bonds, based on the application of our "Methodology For Rating U.S. Governments," published Sept. 9, 2024. The outlook is stable. "The one-notch upgrade reflects our view of the material improvement in the city's financial profile over the past three years leading to a record high cash reserve position that supports a higher rating," said S&P Global Ratings credit analyst Daniel Golliday. The series 2024 bonds are secured by the city's 0.5% sales-and-use tax and North Platte's ad valorem levy, which is subject to a constitutional limitation that limits it to no more than 45 cents per $100 of taxable valuation with an additional five cents available for payments under interlocal...
