Summary: Hennepin County Independent School District No. 281 (Robbinsdale), Minnesota; School State Program Apr 09

Standard & Poors, April 2009

Abstract
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 #281 (Robbinsdale Area Schs)

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.

- Hennepin Cnty Indpt Sch Dist #281 (Robbinsdale Area Schs)

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