S&P Global Ratings lowered its long-term rating to 'A-' from 'A' on North Platte, Neb.'s existing general obligation (GO) debt based on the city's negative adjusted general fund available balance and very weak budgetary flexibility. 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 projected per capita effective buying income (EBI) at 85.8% of the national level and market value per capita of $64,429; Adequate management, with "standard"
