The 'AAA' rating on Minnesota's GO state refunding bonds and other previously issued GO debt reflects: A deep and diverse economy supported by several regional economic hubs and anchored by the Minneapolis-St. Paul MSA, the center of the upper Midwest economy; Continued strong management that remains committed to structural balance and maintenance of reserves; and Moderate debt levels with rapid amortization and strong internal controls, which keep debt levels manageable. Revenue forecasts pulled back very slightly between November 2006 and February 2007, but the state remains on track with its budget, maintaining slightly more than $1 billion in reserves and $110 million in the tax relief account as the end of the 2005-2007 biennium draws near. The 2008-2009 budget has...
Companies mentioned in this report are:
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