Summary: Douglas County Housing and Redevelopment Authority, Minnesota Douglas County; General Obligation; Non-School State Programs Aug 10

Standard & Poors, August 2010

Abstract
Standard & Poor's Ratings Services assigned its 'AA' long-term rating to Douglas County Housing and Redevelopment Authority, Minn.'s series 2010A general obligation (GO) governmental housing refunding bonds. At the same time, Standard & Poor's affirmed its 'AA' rating and underlying rating (SPUR) on the county's existing debt. In our opinion, the ratings reflect the county's: Status as a regional economic center for west-central Minnesota; Adequate-to-good income indicators and extremely strong market value per capita; Healthy financial operations supported by very strong reserves; and Low-to-moderate overall debt burden, with limited capital needs. The county's unlimited-tax GO pledge secures the bonds. In addition, the county has pledged net revenues of two multifamily housing projects and a special tax levy. Bond proceeds will...

Companies mentioned in this report are:
- Douglas Cnty
- Douglas Cnty Hsg & Redev Auth

Action: Affirmed
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.

- Douglas Cnty
- Douglas Cnty Hsg & Redev Auth

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