Minnesota Series 2023A, 2023B, 2023C, 2023D, And 2023E GO Bonds Assigned 'AAA' Rating; Outlook Stable

CHICAGO (S&P Global Ratings) July 24, 2023--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 robust management, with regular and comprehensive multiyear revenue forecasting, focus on matching recurring expenditures with recurring revenue, and commitment to maintaining healthy reserve balances, continues to support

...July 24, 2023 CHICAGO (S&P Global Ratings) July 24, 2023--S&P Global Ratings assigned its '###' 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 '###' rating on the state's GO debt and our '##+' rating on its appropriation-backed debt. The outlook is stable. "Minnesota's robust management, with regular and comprehensive multiyear revenue forecasting, focus on matching recurring expenditures with recurring revenue, and commitment to maintaining healthy reserve balances, continues to support the state's '###' credit quality," said S&P Global Ratings credit analyst Cora Bruemmer. While the state will be making historic...

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