S&P Global Ratings revised its outlook to stable from negative and affirmed its 'AA' rating on Sioux City, Iowa's existing general obligation (GO) debt. At the same time, we assigned our 'AA' rating to the city's series 2021A GO bonds and series 2021B taxable GO bonds. The city's GO pledge secures the 2021A and B bonds payable from unlimited ad valorem taxes. Bond proceeds will be used for the city's capital improvement program (CIP) and to current refund the series 2016A and B bonds for expected interest cost savings. We revised the outlook to stable due to the city's strong economic and financial performance throughout the COVID-19 pandemic period and despite the related recessionary pressure. The rating and stable outlook
