The 'AAA' enhanced rating assigned to Hennepin County Independent School District No. 281 (Robbinsdale), Minn.'s series 2009A taxable general obligation (GO) other postemployment benefit (OPEB) bonds reflects the additional security provided by the Minnesota State Standing Appropriation program to prevent a default on the district's bond issues under state statutes, Section 126C.55. In Standard & Poor's Ratings Services opinion, the 'A+' issuer credit rating (ICR) on the bonds reflects the district's: Participation in the Minneapolis-St. Paul (Twin-Cities) economy; Strong income and wealth indicators; and Moderate debt burden. The district's recent structural imbalance that lessened general fund reserves considerably over the past few years, although being addressed through revenue enhancements and budget reductions over the next few years, is a constraining...
Companies mentioned in this report are:
- Hennepin Cnty Indpt Sch Dist No 281 Robbinsdale Area Schs
Action: New Rating
Action: Outlook: Stable
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