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Hennepin County, MN's Series 2009A GO Bonds Rated 'AAA'; Outlook Stable Mar 09
Standard & Poors, March 2009
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: New Rating
Action: Outlook: Stable
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Research type: News
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- Hennepin Cnty