BRADENTON, Fla. — Standard & Poor’s Thursday changed its outlook on the A rating it assigns to Atlanta’s general obligation bonds and other credits to negative from stable, citing concerns about the city’s weak liquidity and internal fund borrowing practices.

“Over the past few years, the city’s general fund has relied on liquidity from the Department of Watershed Management to cover operating deficits in several of the city’s other funds, including sanitation and [emergency 911], and reported receivables from these funds without a clear repayment plan,” Standard & Poor’s credit analyst John Sugden-Castillo said in a report. “Furthermore, the city has relied on short-term cash flow borrowing across fiscal years to bolster its cash position.”

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