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Strong Finances Elevate Edina, MN's GO Debt Rating to 'AAA' Aug 02 Product Image

Strong Finances Elevate Edina, MN's GO Debt Rating to 'AAA' Aug 02

  • ID: 1927506
  • August 2002
  • Standard & Poors

FEATURED COMPANIES

  • Edina
  • Edina Hsg & Redev Auth
  • MORE

Abstract
CHICAGO (Standard & Poor's) Aug. 21, 2002--Standard & Poor's Ratings Services said it raised its rating on Edina, Minn.'s general obligation debt outstanding one notch to triple-'A' from double-'A'-plus based on the city's continued above-average financial performance with very high fund balance levels. At the same time, Standard & Poor's Ratings Services raised its rating on Edina Housing and Redevelopment Authority, Minn.'s debt outstanding, which is supported by the city, to double-'A'-plus from double-'A'. The housing authority's debt is rated one notch below the city's debt rating because it is subject to appropriation. Standard & Poor's Ratings Services also affirmed the stable outlook on both ratings. "Ongoing growth of the local economy, continuing strong management practices, the city's participation in...

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

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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