Summary: Hennepin County, Minnesota; Appropriations; General Obligation Oct 11

Standard & Poors, October 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' rating and stable outlook to Hennepin County, Minn.'s series 2011A general obligation (GO) bonds and series 2011B GO refunding bonds and affirmed its 'AAA' rating, with a stable outlook, on the county's existing GO debt. Standard & Poor's also affirmed its 'AA+' rating, with a stable outlook, on the county's appropriation-backed debt. The ratings reflect our assessment of the county's: Strong, deep, and diverse economic base, anchored by Minneapolis ('AAA' GO debt r ating); Consistently above-average operations, coupled with, what we consider, very strong fund balance levels, bolstered by historical operating surpluses; Demonstrated ability to manage revenue fluctuations by making corresponding expenditure adjustments, as needed; and Good management performance in addressing capital...

Companies mentioned in this report are:
- Hennepin Cnty

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.

- Hennepin Cnty

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