Summary: Buffalo, Minnesota; Appropriations; General Obligation; Non-School State Programs Mar 12

Standard & Poors, March 2012

Abstract
Standard & Poor's Ratings Services has assigned its 'AA+' long-term rating to Buffalo, Minn.'s series 2012A general obligation (GO) sewer and water revenue bonds, reflecting the county's eligibility for, and participation in, the Minnesota County Credit Enhancement Program. At the same time, Standard & Poor's assigned its 'AA-' underlying rating (SPUR) to the series 2012A bonds and its 'AA-' long-term rating to the city's series 2012B GO refunding bonds. In addition, we affirmed the 'AA-' ratings on Buffalo's existing GO debt, the 'A+' long-term rating on the city's existing lease revenue debt, and the 'AA+' long-term rating on the city's series 2009B and 2009E bonds, reflecting the city's participation in the Minnesota Credit Enhancement Program. The outlook on the 'AA-'...

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

Action: Affirmed
Action: New Rating
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.

- Buffalo
- Buffalo Hsg & Redev Auth

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