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Minneapolis, Minnesota; Tax Secured, General Obligation Oct 05
Standard & Poors, October 2005
The 'AAA' rating on Minneapolis, Minn.'s GO various purpose bonds series 2005A and GO taxable block E refunding bonds reflects the city's: Deep and diverse economic base; Role as a regional economic center for the upper Midwest; Strong financial management, bolstered by good fund balances; History of actively managing long-term expenditure pressures; and Well-managed capital program, with reasonable debt levels. The 'AAA' rating on the city's outstanding GO debt has been affirmed. The bonds are secured by the city's full faith and credit pledge. Proceeds of the 2005A bonds will be used for telecommunications-related projects; Block E bond proceeds will be used to refund outstanding variable-rate debt with fixed-rate bonds. Minneapolis (population: 383,000) and St. Paul form the Twin Cities,...
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Action: New Rating
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