- Language: English
- Published: October 2012
- Region: United States
Summary: Minnesota Governmental Agency Finance Group; State Revolving Funds/Pools Dec 11
- ID: 2035150
- December 2011
- Region: Minnesota
- Standard & Poors
Standard & Poor's Ratings Services has affirmed its 'AA-' long-term rating and underlying rating (SPUR) on Minnesota Governmental Agency Finance Group's public project revenue bonds (Flexible Term program). The rating primarily reflects the program's ability to provide sufficient liquidity to offset, at the 'AA' category rating level, the following factors: Defaults during the first four years of debt service, accounting for recoveries of previous defaulted loan revenues and interest earnings; and Deficiencies in investment earnings as drawdowns on the program's reserves are used to cure projected defaults when they occur. Additional factors supporting the rating include: Agreements that require program participants to repay draws on the reserve fund and accrued interest within one year; Most participants required to set rates...
Companies mentioned in this report are: Minnesota Govermental Agy Fin Grp
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >
Minnesota Govermental Agy Fin Grp