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Summary: Lonsdale, Minnesota; General Obligation Jan 13

  • ID: 2383426
  • January 2013
  • Region: Minnesota
  • Standard & Poors
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Standard & Poor's Ratings Services has assigned its 'A+' long-term rating to Lonsdale, Minn.'s series 2013A general obligation (GO) crossover refunding improvement bonds. At the same time, we affirmed our 'A+' long-term rating on the city's previously rated GO debt. The outlook is stable. The rating reflects our view of the city's: Access to the wider Minneapolis-St. Paul (Twin Cities) metropolitan area economic base; Strong incomes and strong market value per capita; and Very strong general fund reserves. Partially offsetting the above credit strengths, in our view, are the city's moderately high debt burden as a percentage of market value and high debt service carrying charges. The city's unlimited-tax GO pledge secures the bonds. We understand Lonsdale will use the...

Companies mentioned in this report are:
- Lonsdale

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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