Summary: Hubbard County Housing & Redevelopment Authority, Minnesota Hubbard County; Non-School State Programs Feb 12

Standard & Poors, February 2012

Abstract
Standard & Poor's Ratings Services affirmed its 'AA+' long-term rating and 'A+' underlying rating (SPUR) on Hubbard County Housing & Redevelopment Authority, Minn.'s series 2008 general obligation (GO) housing development revenue bonds, issued for Hubbard County. The 'AA+' long-term rating on the series 2008 bonds reflects our opinion of the additional security provided by Minnesota's standing appropriation to prevent a default on the county's bond issue as part of the state's county credit enhancement program. The outlook is stable. The 'A+' SPUR reflects our opinion of the county's: Stable local economy with some focus on tourism; Adequate income and extremely strong wealth levels; Very strong reserve levels; and Low to moderate debt burden. Hubbard County is located in north central...

Companies mentioned in this report are: Hubbard Cnty,Hubbard Cnty Hsg & Redev Auth
Action: Affirmed
Action: Outlook: Stable

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.

Hubbard Cnty,Hubbard Cnty Hsg & Redev Auth

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