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Summary: Dodge City, Kansas; General Obligation Nov 11
Standard & Poors, November 2011
Standard & Poor's Ratings Services revised the outlook on its 'A+' long-term rating and underlying rating (SPUR) on Dodge City, Kan.'s general obligation (GO) debt to negative from stable. The outlook revision reflects our opinion of the city's trend of budgetary imbalances that have led to a significant reduction in available general fund reserves. In addition, we believe stagnant revenue growth will challenge management's ability to restore reserves to historical levels in the near future. At the same time, Standard & Poor's assigned its 'A+' long-term rating and negative outlook to the city's previously unrated series 2006A GO bonds and its 'A+' long-term rating and negative outlook to the city's series 2004A GO refunding and improvement bonds and series 2005A...
Companies mentioned in this report are: Dodge City
Action: New Rating
Action: Outlook: Negative
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