OREANDA-NEWS. S&P Global Ratings revised its outlook to developing from negative and affirmed its 'A-' rating on Dumas, Texas' general obligation (GO) debt.

"The developing outlook reflects our view that rating could be lowered within our one-year outlook horizon if the city's overall financial position for fiscal 2016 is weaker than current estimates indicate," said S&P Global Ratings credit analyst Oscar Padilla. "It also reflects our view that the rating could be raised over the same period should fiscal 2016 audited results show improved budgetary performance relative to 2015, coupled with restored liquidity on a sustainable basis."

The city's bonds are secured by an ad valorem tax levied within the limits prescribed by law on all taxable property within the city.