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Summary: Annandale, Minnesota; General Obligation; Non-School State Programs Aug 11
Standard & Poors, August 2011
Standard & Poor's Ratings Services assigned its 'A+' long-term rating to Annandale, Minn.'s series 2011B general obligation (GO) refunding bonds. At the same time, Standard & Poor's affirmed its 'AAA' long-term rating and 'A+' underlying rating (SPUR) on the city's outstanding debt. The 'AAA' long-term rating reflects our view of the city's eligibility for, and participation in, the Minnesota Credit Enhancement Program. The outlook on all ratings is stable. The ratings reflect our view of the city's: Access to the Minneapolis-St. Paul and St. Cloud metropolitan economies; Good income and strong wealth characteristics; and Very strong financial position. The rating is tempered by our view of the city's high carrying charges, although this is not uncommon for Minnesota cities. The...
Companies mentioned in this report are: Annandale
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.