- Language: English
- Published: July 2012
- Region: Minnesota
Summary: St. Peter, Minnesota; General Obligation Jan 10
- ID: 1953415
- January 2010
- Region: Minnesota
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'A+' rating, and stable outlook, to St. Peter, Minn.'s series 2010A general obligation (GO) hospital crossover refunding bonds. The rating reflects the city's: Stable local economy and participation in the Mankato-North Mankato, Minn. metropolitan area; Maintenance of very strong reserves; Income and wealth indicators that range from adequate-to-good; and Moderate debt burden. The net revenue of River's Edge Hospital and Clinic, a component unit of the city of St. Peter, secures the series 2010A bonds. The city's unlimited-tax GO pledge, subject to an annual uncovered abatement, also secures the bonds. The city has adequate liquidity to pay annual debt service should pledged hospital revenues provide insufficient coverage. The 2010A bonds are being issued...
Companies mentioned in this report are:
- St Peter
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. SHOW LESS READ MORE >