- Language: English
- Published: October 2011
- Region: Minnesota
Summary: Otsego, Minnesota; General Obligation Nov 11
- Published: November 2011
- Region: Minnesota
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating and stable outlook to Otsego, Minn.'s series 2011A general obligation (GO) improvement crossover refunding bonds and affirmed its 'AA-' long-term rating and underlying rating (SPUR), with a stable outlook, on the city's existing GO debt. The rating reflects our opinion of the city's: Access to and participation in the deep and diverse Minneapolis-St. Paul (Twin Cities) metropolitan economy, Strong income and market value per capita, and Very strong finances due to conservative budgeting. We believe what we consider moderately high debt somewhat limits the rating. The city's full-faith-and-credit GO pledge secures the bonds. Officials intend to use bond proceeds to crossover refund the 2015-2028 maturities of the city's series 2006B...
Companies mentioned in this report are: Otsego
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 >