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Minnesota; Appropriations; General Obligation Jul 10
Standard & Poors, July 2010
Standard & Poor's Ratings Services has assigned its 'AAA' general obligation (GO) rating, with a stable outlook, to the State of Minnesota's 2010A-C GO bonds. The rating reflects our view of the state's: Deep and diverse economy supported by several regional economic hubs and anchored by the Minneapolis-St. Paul metropolitan statistical area, the center of the upper Midwest economy; Continued strong management that remains committed to structural balance and maintenance of reserves while the state weathers through the current economic downturn; and Low debt levels with rapid amortization and strong internal controls, which keep debt levels manageable. We understand that the bond proceeds will finance various capital projects. The state's GO pledge secures the bonds. The state originally began the...
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