Summary: Belle Plaine, Minnesota; General Obligation Sep 07

Standard & Poors, September 2007

Abstract
Standard & Poor's Ratings Services raised its standard long-term rating and underlying rating (SPUR) on Belle Plaine, Minn.'s parity debt to 'A' from 'A-'. In addition, Standard & Poor's assigned its 'A' rating to the city's series 2007A GO improvement bonds and 2007B GO utility revenue bonds. The upgrade reflects the city's: Strong tax base growth, while accommodating the associated capital needs; Maintenance of good financial reserves; Proximity to the deep and diverse Minneapolis-St. Paul (Twin Cities) MSA; Average to above-average wealth and income levels; and Strong fund balance levels as a percentage of operations. The city's limited local economy and few employment opportunities lessen these strengths, as does its above-average debt burden. However, there is a rapid amortization schedule,...

Companies mentioned in this report are: Belle Plaine
Action: New Rating
Action: Outlook: Stable
Action: Upgraded

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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.

Belle Plaine

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