S&P Global Ratings assigned its 'AAA' rating to the State of Minnesota's series 2022A general obligation (GO) state various-purpose bonds (approx. $254.2 million), series 2022B GO state trunk highway bonds ($220.0 million), series 2022C GO taxable state various-purpose bonds ($9.5 million), and series 2022D GO state various-purpose refunding bonds ($108 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. Minnesota's GO, full-faith-and-credit pledge secures the 2022A-D GO bonds. The 2022A bonds will finance various programs and capital projects, generally including educational facilities, parks, pollution control facilities, transportation, natural resources, and agricultural enterprises. The 2022B bonds will finance construction and maintenance of the
