S&P Global Ratings assigned its'AA'long-term rating to Hawley , Minnesota's $3.45 million series 2026A general obligation (GO) improvement bonds. At the same time, we affirmed our ‘AA’ long-term rating on the city’s existing GO debt. The outlook is stable. The city's full faith and credit and ability to levy direct general ad valorem taxes without limitation as to rate or amount secures the bonds. The city is also pledging revenue from special assessments against benefited properties, but given the city's general creditworthiness reflected in the'AA'long-term rating, we consider the GO the stronger pledge. The city's GO debt outstanding carries other pledged revenue sources similar to the series 2026A bonds, but the credit rating in these instances
