Standard & Poor's Ratings Services assigned its 'AA' long-term rating to West St. Paul, Minn.'s taxable general obligation (GO) tax abatement bonds series 2012A and 2012B. At the same time, Standard & Poor's affirmed its 'AA' long-term rating on the city's outstanding debt. The outlook is stable. The rating reflects our view of the city's: Proximity to and participation in the Minneapolis-St. Paul (Twin Cities) metropolitan area economic base; Good-to-strong economic indicators Strong and stable financial profile, as demonstrated by a very strong general fund balance; Good management practices; and Low debt burden. We understand that the series 2012A and 2012B bond proceeds will finance construction of an indoor sports facility located within the city. The city's GO pledge secures...
Companies mentioned in this report are:
- West Saint Paul
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. SHOW LESS READ MORE >