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Summary: Otsego, Minnesota; General Obligation Nov 11

  • ID: 2027087
  • 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: Affirmed
Action: New Rating
Action: Outlook: Stable

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