OREANDA-NEWS. S&P Global Ratings revised its outlook to negative from stable and affirmed its 'AA' long-term rating on Peoria County, Ill.'s general obligation (GO) alternate revenue source bonds.

"The negative outlook reflects our view of the county's inconsistent budgetary performance, expected reduction of available reserves, and the possible downside pressure associated with the continued restructuring of Caterpillar, Inc., a significant local employer and taxpayer," said S&P Global credit analyst David Smith.

Peoria County, with an estimated population of 189,705, is located in the Peoria, Ill., MSA, which we consider to be broad and diverse. The county's economy is driven by the city of Peoria, the county seat and a retail and service center for central Illinois.