Minnesota; Tax Secured, General Obligation Jul 03
Standard & Poors, July 2003
Abstract
The 'AAA' rating on Minnesota's GO tax-exempt and taxable state bonds reflects the following credit factors: A deep and diverse economy, supported by several regional economic centers and anchored by the Minneapolis-St. Paul MSA; Continued strong management, which addresses both short- and long-term structural issues; Good remaining liquidity, despite planned draw-downs; and Moderate debt levels, with rapid amortization and internal controls, which keep debt levels manageable. The 'AAA' rating and 'AAA' Standard & Poor's underlying rating (SPUR) on Minnesota's outstanding debt have been affirmed. Despite an economy that benefits from diversity across several sectors, the economic recession has settled in on Minnesota--although it arrived in the state later than it did in many other areas of the country. Employment levels...
Companies mentioned in this report are:
- Minnesota
Action: New Rating
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.
Research Type: Full Analysis
- Minnesota
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