Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to Nobles County, Minn.'s series 2012A general obligation (GO) water revenue crossover refunding bonds. At the same time, Standard & Poor's affirmed its 'AA-' long-term and underlying rating (SPUR) as well as its 'AA+' enhanced long-term rating on the county's outstanding debt. The outlook on all ratings is stable. The 'AA+' enhanced rating reflects our view of the additional security provided by Minnesota's standing appropriation to prevent a default on the county's bond issuance. The authorization for this program is derived from Minnesota Statutes, Section 446A.086. An independent paying agent is responsible for notifying the state in a timely manner if a potential default situation exists. Upon notification, the commissioner...
Companies mentioned in this report are:
- Nobles Cnty
Action: New Rating
Action: Outlook: Stable
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