...S&P Global Ratings revised its outlook to stable from negative and affirmed its 'A-' rating on North Platte, Neb.'s existing general obligation (GO) debt based on our view of the city's improved unadjusted reserve position. At the same time, S&P Global Ratings assigned its 'A-' rating to the city's series 2019 GO refunding bonds and series 2019 GO various purpose bonds. The series 2019 GO refunding bonds are being issued to refund the city's series 2013 GO various purpose bonds for interest cost savings. The series 2019 various purpose bonds are being issued for capital improvements in the city. Situated in west-central Nebraska, the city of North Platte's geographic isolation limits its economic depth and diversity, as the nearest large metropolitan center is Omaha, located nearly 300 miles away. The city's recent change in accounting practices with respect to the treatment of certain funds in its general fund has improved its unadjusted reserves. Despite this, the city has reported uneven...
