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Summary: Waite Park, Minnesota; General Obligation Sep 10 Product Image

Summary: Waite Park, Minnesota; General Obligation Sep 10

  • ID: 2030470
  • September 2010
  • Region: Minnesota
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'A+' long-term rating to Waite Park, Minn.'s series 2010C general obligation (GO) improvement refunding bonds. At the same time, Standard & Poor's affirmed its 'A+' long-term rating and underlying rating (SPUR) on the city's previously issued debt. The rating reflects our view of the city's: Participation in the St. Cloud regional area economy; Diverse revenue base that allows the city to capitalize on its position as a regional retail center; Maintenance of very strong reserves, coupled with good financial management practices; and Moderate overall debt burden, in terms of percent of market value, and rapid amortization, with 93% of the city's direct debt maturing in 10 years. Offsetting credit characteristics include, in our...

Companies mentioned in this report are:
- Waite Park

Action: New Rating

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