Summary: Mountain Lake Economic Development Authority, Minnesota Mountain Lake; General Obligation Feb 12

Standard & Poors, February 2012

Abstract
Standard & Poor's Ratings Services assigned its 'A' rating and stable outlook to Mountain Lake Economic Development Authority, Minn.'s series 2012A general obligation (GO) housing development revenue refunding bonds, issued for Mountain Lake, and affirmed its 'A' rating, with a stable outlook, on the city's existing GO debt. The rating reflects our view of the city's: Stable, but limited, agriculture- and manufacturing-based local economy; Very strong reserves; and Moderate debt, coupled with, what we consider, a rapid amortization schedule. We believe what we consider the city's adequate, but below-average, income and low market value per capita somewhat offset these strengths. Unlimited ad valorem taxes levied on taxable property in the city secure the bonds. We understand that rental revenue, collected...

Companies mentioned in this report are:
- Mountain Lake
- Mountain Lake Econ Dev Auth

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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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.

- Mountain Lake
- Mountain Lake Econ Dev Auth

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