Minneapolis? Series 2024 GO Bonds Assigned 'AAA' Rating; Outlook Is Stable

CHICAGO (S&P Global Ratings) Sept. 23, 2024--S&P Global Ratings assigned its 'AAA' rating to the City of Minneapolis' $123.59 million series 2024 general obligation (GO) bonds, based on the application of its "Methodology for Rating U.S. Governments," published Sept. 9, 2024. At the same time, S&P Global Ratings affirmed its 'AAA' rating on the city's GO debt outstanding. The outlook is stable. "The 'AAA' rating reflects Minneapolis' highly productive economy and robust tax base, the willingness and ability to increase property taxes to match expenditures, and a management team that consistently has built reserves to a high level by responding to unexpected budgetary changes and forward planning," said S&P Global Ratings credit analyst Jessica Olejak. The stable outlook reflects the

...September 23, 2024 CHICAGO (S&P Global Ratings) Sept. 23, 2024--S&P Global Ratings assigned its '###' rating to the City of Minneapolis' $123.59 million series 2024 general obligation (GO) bonds, based on the application of its "Methodology for Rating U.S. Governments," published Sept. 9, 2024. At the same time, S&P Global Ratings affirmed its '###' rating on the city's GO debt outstanding. The outlook is stable. "The '###' rating reflects Minneapolis' highly productive economy and robust tax base, the willingness and ability to increase property taxes to match expenditures, and a management team that consistently has built reserves to a high level by responding to unexpected budgetary changes and forward planning," said S&P Global Ratings credit analyst Jessica Olejak. The stable outlook reflects the continued stronger revenue recovery, economic growth even with some risks around commercial real estate, and a five-year plan that shows a measured use of reserves and stimulus funds but a...

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