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Belle Plaine, MN GO Debt Rating Raised To 'AA-'; Outlook Stable Jun 08
Standard & Poors, June 2008
Abstract
CHICAGO (Standard & Poor's) June 16, 2008--Standard & Poor's Ratings Services has raised its standard long-term rating and underlying rating (SPUR) on Belle Plaine, Minn.'s parity debt to 'AA-' from 'A', reflecting consistently positive operations, the maintenance of strong financial reserves, and healthy tax base growth. The outlook is stable. At the same time, the rating service assigned its 'AA-' rating to the city's $1.24 million series 2008A general obligation (GO) improvement bonds. The upgrade reflects the city's proximity to the deep and diverse Minneapolis-St. Paul (Twin Cities) metropolitan statistical area; healthy tax base growth, while accommodating the associated capital needs; strong wealth and income levels; and maintenance of good financial operations coupled with very strong fund balance levels. The...
Companies mentioned in this report are: Belle Plaine
Action: New Rating
Action: Outlook: Stable
Action: Upgraded
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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