Summary: Staples, Minnesota; Appropriations; General Obligation; Non-School State Programs Mar 12

Standard & Poors, March 2012

Abstract
Standard & Poor's Ratings Services has assigned its 'A' long-term rating to Staples, Minn.'s series 2012 general obligation (GO) bonds. At the same time, Standard & Poor's affirmed its 'A' long-term and underlying (SPUR) ratings on the city's existing GO debt and 'A-' long-term rating on the city's series 2009 lease revenue bonds. Finally, Standard & Poor's affirmed its 'AA+' long-term rating on the city's series 2010A bonds, reflecting the city's eligibility for the Minnesota Credit Enhancement Program Rating. The outlook is stable. The 'A' rating reflects our opinion of the city's: Limited, yet stable local economy; Adequate, but below-average income levels and low market value per capita; and Maintenance of very strong reserves, albeit, low on a nominal basis....

Companies mentioned in this report are: Staples
Action: Affirmed
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.

Staples

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