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
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