Summary: Blaine, Minnesota; General Obligation

S&P Global Ratings assigned its 'AAA' long-term rating to the City of Blaine, Minn.'s $10.715 million general obligation (GO) improvement bonds, series 2020A. At the same time, we affirmed our 'AAA' long-term rating on the city's outstanding GO bonds. The outlook is stable. Proceeds from the bonds will be used to finance various street improvement and pavement projects. Securing the bonds is the city's full faith, credit, and unlimited ad valorem property tax pledge. The city anticipates a portion of the bonds to be repaid from special assessments. However, we rate to the GO pledge. Blaine's GO bonds are eligible to be rated above the sovereign, because we believe the city can maintain better credit characteristics than the U.S. in

...S&P Global Ratings assigned its '###' long-term rating to the City of Blaine, Minn.'s $10.715 million general obligation (GO) improvement bonds, series 2020A. At the same time, we affirmed our '###' long-term rating on the city's outstanding GO bonds. The outlook is stable. Proceeds from the bonds will be used to finance various street improvement and pavement projects. Securing the bonds is the city's full faith, credit, and unlimited ad valorem property tax pledge. The city anticipates a portion of the bonds to be repaid from special assessments. However, we rate to the GO pledge. Blaine's GO bonds are eligible to be rated above the sovereign, because we believe the city can maintain better credit characteristics than the U.S. in a stress scenario. Under our criteria "Ratings Above The Sovereign: Corporate And Government Ratings--Methodology And Assumptions" (published Nov. 19, 2013, on RatingsDirect), U.S. local governments are considered to have moderate sensitivity to country risk....

Summary