CHICAGO (Standard&Poor's) Sept. 27, 2011--Standard&Poor's Ratings Services has lowered its ratings on various bonds issued under Minnesota's school district, city, and county enhancement programs to 'AA+' from 'AAA' following the downgrade of the state's general obligation rating to 'AA+' from 'AAA' on Sept. 23, 2011 (see "Minnesota's General Obligation Debt Lowered To ?AA+? From ?AAA? On Continued Structural Imbalance" on RatingsDirect on the Global Credit Portal). The ratings have a stable outlook. All three programs include a standing appropriation from the state to cover debt service for participating governments or school districts. Pursuant to our criteria, the programs move in tandem with the related state rating and the outlook will always reflect the state's rating outlook.
