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Summary: Clarkfield, Minnesota; General Obligation Jun 10 Product Image

Summary: Clarkfield, Minnesota; General Obligation Jun 10

  • ID: 1815375
  • June 2010
  • Region: Minnesota
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'A' rating to the City of Clarkfield, Minn.'s general obligation (GO) water and sewer revenue crossover refunding bonds, series 2010A. The outlook is stable. The rating reflects our assessment of the city's: Adequate income levels; Very strong financial reserves, albeit low on a nominal basis; and Low overall debt burden. Partially offsetting the preceding credit factors are the city's shallow local economic base and limited access to more diverse employment opportunities. The bonds will provide moneys, along with other available funds, to crossover refund a portion of the city's series 2001 GO water and sewer revenue refunding bonds for interest cost savings. The city's GO pledge secures the bonds. Clarkfield (population 885) is...

Companies mentioned in this report are: Clarkfield
Action: New Rating
Action: Outlook: Stable

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