S&P Global Ratings assigned its 'AA+' rating to White Bear Lake , Minn.'s roughly $2.43 million series 2025A general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its 'AA+' rating on the city's existing GO debt. The outlook is stable. The rating reflects the application of its criteria, ? Methodology For Rating U.S. Governments ,? published Sept. 9, 2024, on RatingsDirect. The city's full-faith-and-credit pledge and unlimited taxing powers secure the bonds . The city expects to partially pay series 2025A bond debt service from special assessments levied against properties benefitted by improvements. However, the rating on the series 2025A bonds and GO debt outstanding reflects the unlimited-ad valorem-tax pledge. Officials intend to use series 2025A bond
