Minnesota Series 2022A, 2022B, 2022C, And 2022D GO Bonds Assigned 'AAA' Rating; Outlook Stable - S&P Global Ratings’ Credit Research

Minnesota Series 2022A, 2022B, 2022C, And 2022D GO Bonds Assigned 'AAA' Rating; Outlook Stable

Minnesota Series 2022A, 2022B, 2022C, And 2022D GO Bonds Assigned 'AAA' Rating; Outlook Stable - S&P Global Ratings’ Credit Research
Minnesota Series 2022A, 2022B, 2022C, And 2022D GO Bonds Assigned 'AAA' Rating; Outlook Stable
Published Jul 28, 2022
2 pages (1298 words) — Published Jul 28, 2022
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

CHICAGO (S&P Global Ratings) July 28, 2022--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. "The rating and stable outlook reflect our view that Minnesota's structurally balanced 2022-2023 biennium budget and 2024-2025 forecast, which exhibit strong revenue growth and a commitment to maintaining robust reserve balances, will continue to support the state's

  
Brief Excerpt:

...July 28, 2022 CHICAGO (S&P Global Ratings) July 28, 2022--S&P Global Ratings assigned its '###' 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 '###' rating on the state's GO debt and our '##+' rating on its appropriation-backed debt. The outlook is stable. "The rating and stable outlook reflect our view that Minnesota's structurally balanced 2022-2023 biennium budget and 2024-2025 forecast, which exhibit strong revenue growth and a commitment to maintaining robust reserve balances, will continue to support the state's '###' credit quality," said S&P Global Ratings credit analyst Cora Bruemmer. We view the Minnesota's environmental, social, and governance (ESG) risks as neutral...

  
Report Type:

Ratings Action

Issuer
Minnesota
Sector
Public Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Minnesota Series 2022A, 2022B, 2022C, And 2022D GO Bonds Assigned 'AAA' Rating; Outlook Stable" Jul 28, 2022. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Minnesota-Series-2022A-2022B-2022C-And-2022D-GO-Bonds-Assigned-AAA-Rating-Outlook-Stable-2872729>
  
APA:
S&P Global Ratings’ Credit Research. (). Minnesota Series 2022A, 2022B, 2022C, And 2022D GO Bonds Assigned 'AAA' Rating; Outlook Stable Jul 28, 2022. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Minnesota-Series-2022A-2022B-2022C-And-2022D-GO-Bonds-Assigned-AAA-Rating-Outlook-Stable-2872729>
  
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