Summary: Morrison County, Minnesota; General Obligation Apr 11

Standard & Poors, April 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AA' long-term rating to Morrison County, Minn.'s series 2011A general obligation (GO) equipment notes and affirmed its 'AA' long-term rating on the county's previously issued debt. The outlook is stable. The rating reflects our assessment of the county's: Access to Brainerd and the St. Cloud metropolitan area economy, Good income and very strong wealth levels, Maintenance of very strong reserve levels, and Moderate debt levels. Partially offsetting the above strengths is our view of the county's high unemployment rate and declining tax base. Unlimited ad valorem taxes levied on taxable property within the county secure the GO notes. Proceeds will be used to finance the purchase of an 800MHz communication system for the...

Companies mentioned in this report are: Morrison Cnty
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Morrison Cnty

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