S&P Global Ratings lowered its long-term rating on North Platte, Neb.'s existing general obligation (GO) debt to 'A' from 'AA-' based on the city's weakened budgetary flexibility and budgetary performance. The outlook is negative. The city's existing GO debt is secured by its full faith and credit GO pledge. The debt is also secured by special assessment revenues. Because we view the city's GO pledge as the stronger pledge, we rate to this security. The rating reflects our opinion of the following factors for the city, including its: Weak economy, with market value per capita of $57,373 and projected per capita effective buying income (EBI) at 89.4% of the national level; Adequate management, with "standard" financial policies and practices under
