S&P Global Ratings revised the outlook to negative from stable and affirmed its 'BBB+' rating on the City of Shreveport, La.'s general obligation (GO) bonds and limited-tax debt outstanding. At the same time, S&P Global Ratings assigned its 'BBB+' long-term rating to Shreveport's anticipated $88 million GO bonds, series 2024. The outlook revision to negative reflects ongoing uncertainty regarding the city's willingness and ability to establish structural balance and maintain reserves at a level that would support a stable rating. The GO bonds are secured by an unlimited ad valorem tax on all taxable property within the city. Proceeds will be used to fund various capital improvements including roads, streets, bridges, drainage, water and sewer system projects, and public facilities.
