Summary: Edina, Minnesota; Appropriations; General Obligation Sep 11

Standard & Poors, September 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' long-term rating to Edina, Minn.'s series 2011A general obligation (GO) bonds. At the same time, Standard & Poor's affirmed its 'AAA' long-term rating on the city's outstanding GO debt. Finally, Standard & Poor's affirmed its 'AA+' long-term rating on Edina's outstanding lease bonds, issued by the Edina Housing & Redevelopment Authority. The 'AA+' rating reflects the city's pledge to appropriate the necessary lease payments to make annual debt service. The outlook on all ratings is stable. The ratings reflect our view of the city's: Participation in the Minneapolis-St Paul metropolitan area economy and role as a first-ring suburb in the prosperous Twin Cities western suburbs; Continued strong financial performance with very strong...

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

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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.

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.

- Edina
- Edina Hsg & Redev Auth

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