Standard & Poor's Corp. last week revised the outlook for Minneapolis's outstanding general obligation bonds to negative from stable, citing softness in the city's property tax base and decreased general funds.

However, the rating agency affirmed a AAA rating for a $32.1 million GO issue the city sold earlier this month and for $558.1 million of outstanding GO bonds. The agency also affirmed a AAA/A-1-plus rating on the city's $138.3 million variable-rate bonds.

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