Hennepin County, MN's Series 2009A GO Bonds Rated 'AAA'; Outlook Stable Mar 09

Standard & Poors, March 2009

Abstract
CHICAGO (Standard & Poor's) March 24, 2009--Standard & Poor's Rating Services has assigned its 'AAA' rating to Hennepin County, Minn.'s $60 million general obligation (GO) bonds series 2009A. The outlook is stable. At the same, the rating service affirmed its 'AAA' standard long-term rating on the county's previously issued GO bonds and its 'AA+' standard long-term rating on the county's appropriation-backed debt. The county's credit strengths include strong, deep, and diverse economic base anchored by Minneapolis, Minn. (GO rating 'AAA'); consistently above-average financial operations, despite a drawdown in fiscal 2008 and budgeted drawdown in fiscal 2009, with very strong fund balance levels bolstered by historical operating surpluses; demonstrated ability to manage revenue fluctuations by making corresponding expenditure adjustments as needed;...

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.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- Hennepin Cnty

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