S&P Global Ratings revised its outlook to stable from negative and affirmed its 'BBB+' long-term ratings on the City of Shreveport, La.'s general obligation (GO) and limited-tax debt. The GO debt is secured by an unlimited ad valorem tax on all taxable property within the city. Shreveport also has debt secured by a lawfully available funds pledge, which we rate the same as the GO debt because we do not believe there are limitations on the fungibility of resources. The outlook revision reflects Shreveport's significantly improved budgetary performance and financial flexibility in fiscal 2020, which is expected to continue through fiscal 2021. In addition, the stable outlook reflect improvement in our Financial Management Assessment (FMA) on the city to standard
