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Summary: Minneapolis, Minnesota; General Obligation; Tax Increment Nov 08
Standard & Poors, November 2008
The 'AAA' standard long-term rating on Minneapolis, Minn.'s general obligation (GO) improvement bonds series 2008 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 previously issued GO debt has been affirmed. The city's full faith and credit pledge secures the bonds. Minneapolis (population: 382,400) and St. Paul form the Twin Cities, which are the upper Midwest's hub for economic activity. A strong service and trade base, which complements the manufacturing sector, supports the Minneapolis-St. Paul metropolitan statistical area (MSA). The city's unemployment...
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Stable
Action: On CreditWatch:Developing
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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.