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

  • ID: 1927506
  • August 2002
  • Standard & Poors
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  • Edina
  • Edina Hsg & Redev Auth
  • MORE

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

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Research type: News
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- Edina
- Edina Hsg & Redev Auth

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