NEW YORK (Standard&Poor's) Oct. 20, 2006—Standard&Poor's Ratings Services assigned its 'AAA' rating to Minnesota's new $400 million various-purpose GO bonds, while affirming its 'AAA' rating on the state's GO debt. The outlook is stable. The rating reflects a deep and diverse economy supported by several regional economic hubs and anchored by the Minneapolis-St. Paul MSA, the center of the upper Midwest economy; continued strong management that remains committed to structural balance and maintenance of reserves; and moderate debt levels with rapid amortization and strong internal controls, which keep debt levels manageable. "We expect that the state will maintain adequate reserve levels on a budgetary basis while continuing to work toward rebuilding fund balance levels on a
