OREANDA-NEWS. S&P Global Ratings revised the outlook to negative from stable and affirmed its 'A+' long-term rating and underlying rating (SPUR) on Alice, Texas' general obligation (GO) debt. At the same time, we have assigned our 'A+' long-term rating to the city's series 2016A and 2016B GO refunding bonds. The outlook is negative.

"The outlook revision reflects our assessment of the city's weakening financial profile combined with the contraction of the local economy as a result of exposure to volatile oil drilling and production activities," said S&P Global Ratings credit analyst Joshua Travis. "The outlook revision also reflects our consideration of recent turnover within the executive management and financial team," Mr. Travis added.