...NEW YORK (S&P Global Ratings) July 25, 2016--S&P Global Ratings has assigned its '##+' rating and positive outlook to the State of Minnesota's general obligation (GO) bonds, series 2016 A through D. At the same time, S&P Global Ratings affirmed its '##+' rating on Minnesota's GO debt, its '##' rating on the state's appropriation-backed debt, and its 'A+' rating on the state's moral obligation debt. The outlook on all ratings is positive. Credit factors supporting the ratings include our view of the state's: + Deep and diverse economy, with the Minneapolis-St. Paul metropolitan statistical area (MSA), the center of the upper Midwest economy, anchoring regional economic hubs; + Improved financial results, including the restoration of reserves and improved structural balance; and + Moderate debt levels, with well-defined debt management guidelines, and a moderate pension liability although the annual funding is statutorily defined and does not fully match the actuarially determined contribution...
