Minnesota GO Debt Outlook To Negative On Its Potential Reliance On One-Time Measures To Address Most Of Its Budget Gap

CHICAGO (S&P Global Ratings) Aug. 3, 2020--S&P Global Ratings has revised its outlook to negative from stable on Minnesota's general obligation (GO), appropriation-backed, and moral obligation debt. At the same time, we affirmed our 'AAA' rating on the State of Minnesota's GO debt, our 'AA+' rating on its appropriation-backed debt, and our 'AA' rating on its moral obligation debt. We also assigned our 'AAA' rating to Minnesota's GO bonds consisting of: $333 million GO state various-purpose bonds, series 2020A; $152 million GO state trunk highway bonds, series 2020B; $21 million GO taxable state various-purpose bonds, series 2020C; $129 million GO state various-purpose refunding bonds, series 2020D; $164 GO state trunk highway refunding bonds, series 2020E; $225 GO taxable state various-purpose

...August 3, 2020 CHICAGO (S&P Global Ratings) Aug. 3, 2020--S&P Global Ratings has revised its outlook to negative from stable on Minnesota's general obligation (GO), appropriation-backed, and moral obligation debt. At the same time, we affirmed our '###' rating on the State of Minnesota's GO debt, our '##+' rating on its appropriation-backed debt, and our '##' rating on its moral obligation debt. We also assigned our '###' rating to Minnesota's GO bonds consisting of: - $333 million GO state various-purpose bonds, series 2020A; - $152 million GO state trunk highway bonds, series 2020B; - $21 million GO taxable state various-purpose bonds, series 2020C; - $129 million GO state various-purpose refunding bonds, series 2020D; - $164 GO state trunk highway refunding bonds, series 2020E; - $225 GO taxable state various-purpose refunding bonds, series 2020F; and - $181 GO taxable state trunk highway refunding bonds, series 2020G. "The negative outlook reflects our view that there is at least a...

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