CHICAGO (Standard&Poor's) July 30, 2010--Standard&Poor's Ratings Services has assigned its 'AAA' general obligation (GO) rating, with a stable outlook, to the State of Minnesota's 2010A-C GO bonds. "The rating reflects our view of the state's deep and diverse economy, continued strong management, and low debt levels with rapid amortization and strong internal controls," said Standard&Poor's credit analyst Corey Friedman. We understand that the bond proceeds will finance various capital projects. The state's GO pledge secures the bonds. The stable outlook reflects our assessment of Minnesota's proactive response to recent revenue shortfalls and the current level of reserves, which provide the state some flexibility in our opinion to manage through the current period of economic
