Summary: Nobles Cnty, MN; Tax Secured, General Obligation Jul 03

Standard & Poors, July 2003

Abstract
The 'A-' rating on Nobles County, Minn.'s GO refunding bonds reflects the county's: Stable local economy, which is focused on manufacturing, trade, and agriculture; Relatively diverse tax base, which is currently valued at $1.2 billion; and Conservative budgeting practices and sound financial performance, resulting in consistently strong reserves. The county's low wealth and income levels offset these credit strengths. The county's GO pledge secures the bonds. Nobles County (population, 20,830) is in Minnesota's southwest corner, about 60 miles east of Sioux Falls, S.D. on Interstate 90. Employment is centered on trade (25% of the total), a diverse manufacturing base (17%), and agriculture (10%). The county's unemployment levels have been between 3% and 4% over the past 10 years, which was...

Companies mentioned in this report are: Nobles Cnty,Nobles Cnty Hsg & Redev Auth
Action: New Rating

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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.

Nobles Cnty,Nobles Cnty Hsg & Redev Auth

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