S&P Global Ratings revised the outlook to negative from stable and affirmed its 'BBB+' and 'A-' ratings on the City of Shreveport , La.'s $180.3 million junior-lien water and sewer revenue bonds and approximately $435.1 million senior-lien revenue bonds. We also assigned our 'A-' rating to the city's series 2025 water and sewer revenue refunding bonds. The outlook revision reflects our view that rate affordability is becoming more pressured, all-in coverage levels are becoming more marginal, and that there is more certainty projects related to the sewer system consent decree, which will require a significant increase in debt, will be coming within the next two years. The senior- and junior-lien bonds are secured by first- and second-lien pledges of the
