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Summary: Olmsted Cnty, MN; Appropriation, General Obligation Equivalent Security; Tax Secured, General Obligation Nov 02 Product Image

Summary: Olmsted Cnty, MN; Appropriation, General Obligation Equivalent Security; Tax Secured, General Obligation Nov 02

  • ID: 1795114
  • November 2002
  • Standard & Poors

Abstract
The 'AAA' rating on Olmsted County, Minn.'s GO bonds reflects the county's: Strong service-based economy anchored by the Mayo Clinic; Steady tax base growth; Strong management practices and performance that has led to a strong financial position; and Effective debt management, with a low overall debt burden. The county is in southeastern Minnesota, 80 miles south of the Twin Cities region, and includes the city of Rochester, home of the Mayo Clinic, the largest medical center in the world. Mayo is the county's leading taxpayer and employer, with over 24,600 employees. Mayo has recently embarked on a five-phase expansion program expected to run through 2005, with phase one totaling $122 million. IBM Corp.'s storage systems division is also a leading...

Companies mentioned in this report are: Olmsted Cnty
Action: New Rating

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