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

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

  • ID: 2091506
  • March 2012
  • Region: Minnesota
  • Standard & Poors

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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