Standard & Poor's Ratings Services said it lowered its underlying rating to A from A-plus on Schofield City, Wis.'s existing general obligation bonds and removed it from CreditWatch with negative implications.
Processing Content
The outlook is stable.
"We removed the rating from CreditWatch due to our receiving sufficient information to assess the rating," said Standard & Poor's credit analyst Andrew Truckenmiller. "The lowered rating reflects our view of the city's consecutive general fund deficits, which have resulted in an available fund balance that we consider low on a nominal basis."
Schofield City is located Marathon County. In 2013, the city's population was 2,175.
