Summary: Buffalo, MN; Appropriation, Appropriations; Tax Secured, General Obligation Mar 06

Standard & Poors, March 2006

Abstract
The 'A+' rating on the city of Buffalo, Minn.'s GO water and sewer revenue refunding bonds series 2006A, reflects the city's: Access to the Minneapolis-St. Paul, Minn. economic base as well as to the St. Cloud employment base; High value economic development, with strong growth in market value and population; and Solid financial reserves, benefiting from the profits of its municipal liquor store and payments in lieu of taxes (PILOT) from its electric utility. These strengths are lessened by the city's high overall debt burden. The bonds, which will refund the series 1998 and 199A GO water and sewer bonds for interest cost savings, are secured by the city's GO pledge. The bonds will also use about $1 million for...

Companies mentioned in this report are:
- Buffalo
- Buffalo Hsg & Redev 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.

- Buffalo
- Buffalo Hsg & Redev Auth

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