Minnesota 2024A-E GO Bonds Assigned 'AAA' Rating; Other Ratings Affirmed

CHICAGO (S&P Global Ratings) July 25, 2024--S&P Global Ratings assigned its 'AAA' rating to the State of Minnesota's series 2024A general obligation (GO) state various-purpose bonds ($893.9 million), series 2024B GO state trunk highway bonds ($352.8 million), series 2024C GO taxable state various-purpose bonds ($30.9 million), series 2024D GO state various-purpose refunding bonds ($192.7 million), and series 2024E GO state trunk highway refunding bonds ($141.2 million). At the same time, we affirmed our 'AAA' rating on the state's GO debt and our 'AA+' rating on its appropriation-backed debt. The outlook is stable. "Our 'AAA' GO rating on Minnesota reflects our view of the state's robust financial management and government framework, its demonstrated commitment to structural budgetary balance and to maintaining

...July 25, 2024 CHICAGO (S&P Global Ratings) July 25, 2024--S&P Global Ratings assigned its '###' rating to the State of Minnesota's series 2024A general obligation (GO) state various-purpose bonds ($893.9 million), series 2024B GO state trunk highway bonds ($352.8 million), series 2024C GO taxable state various-purpose bonds ($30.9 million), series 2024D GO state various-purpose refunding bonds ($192.7 million), and series 2024E GO state trunk highway refunding bonds ($141.2 million). At the same time, we affirmed our '###' rating on the state's GO debt and our '##+' rating on its appropriation-backed debt. The outlook is stable. "Our '###' GO rating on Minnesota reflects our view of the state's robust financial management and government framework, its demonstrated commitment to structural budgetary balance and to maintaining healthy reserves, its above-average economic characteristics, and its conservatively managed debt and liability profile," said S&P Global Ratings credit analyst Scott...

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