Summary: Dodge City, Kansas; General Obligation Nov 11

Standard & Poors, November 2011

Abstract
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: Affirmed
Action: New Rating
Action: Outlook: Negative

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Dodge City

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