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Summary: Tyler, Minnesota; General Obligation Oct 10

  • ID: 1929371
  • October 2010
  • Region: Minnesota
  • Standard & Poors

Standard & Poor's Ratings Services assigned its 'A+' long-term rating to the City of Tyler, Minn.'s series 2010A general obligation (GO) refunding bonds. The outlook is stable. The rating reflects our view of the city's: Local economy based in agriculture, with access to Marshall, Minn.; Adequate economic indicators; General fund reserves, which are very strong as a percent of expenditures, though small nominally; and Moderate debt burden. The city's GO pledge secures the bonds. Officials indicate they plan to use the city's special assessment and utility revenues toward debt service. Bond proceeds will be used to refinance a portion of the city's series 2003 GO sewer revenue crossover refunding bonds and series 2005A GO street reconstruction bonds. The City of...

Companies mentioned in this report are: Tyler
Action: New Rating
Action: Outlook: Stable

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