Rating agency sees trouble ahead for A.C.

Credit analysts are losing confidence in Atlantic City's ability to pay down its bonded debt. The city maintained its "A" standing with Standard & Poor's, but the credit rating institution changed the outlook from stable to negative, indicating that it could downgrade the city.

A news release issued yesterday said the city's debt burden was low, but its ability to raise new tax revenue is limited and it faces ongoing pressure from $9 million in property tax appeals.

Gov. Christie last month announced an agreement with the Department of Community Affairs that will give the state oversight of the city budget and limit property tax increases. - Chelsea Conaboy