S&P Global Ratings assigned its 'AAA' rating to the State of Minnesota's series 2023A general obligation (GO) state various-purpose bonds ($158.9 million), series 2023B GO state trunk highway bonds ($264.0 million), series 2023C GO taxable state various-purpose bonds ($15.0 million), series 2023D GO state various-purpose refunding bonds ($327.0 million), and series 2023E GO state trunk highway refunding bonds ($255.3 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 2023A-E GO bonds. The 2023A bonds will finance various programs and capital projects, generally including educational facilities, parks, pollution control facilities, transportation, natural resources, and agricultural enterprises. The
