Summary: Blaine, Minnesota; General Obligation

Credit Highlights S&P Global Ratings assigned its 'AAA' rating to Blaine, Minn.'s roughly $13.59 million series 2022A general obligation (GO) improvement and utility revenue bonds. S&P Global Ratings also affirmed its 'AAA' rating on the city's existing GO debt. The outlook is stable. The city's full-faith-and-credit pledge and ability to levy unlimited ad valorem property taxes secure the bonds. The city further pledges special-assessment revenue from benefited properties and net revenue from the city's water, sewer, and stormwater utility funds for the repayment of a portion of series 2022A bonds; however, we rate to the GO pledge. Officials intend to use series 2022A bond proceeds to finance various street improvements and related utility projects. Blaine's very strong management with strong

...Most recent --Historical information-- 2021 2020 2019 Very strong economy Projected per capita effective buying income as a % of U.S. 110.4 Market value per capita ($) 143,196 Population 67,339 66,805 65,793 County unemployment rate(%) 3.4 Market value ($000) 9,642,681 8,654,509 8,179,486 7,612,195 10 leading taxpayers as a % of taxable value 8.4 Strong budgetary performance Operating fund result as a % of expenditures 15.3 21.1 7.7 Total governmental fund result as a % of expenditures 6.0 (0.5) 3.6 Very strong budgetary flexibility Available reserves as a % of operating expenditures 47.6 55.4 42.7 Total available reserves ($000) 15,963 17,481 13,332 Very strong liquidity Total government cash as a % of governmental fund expenditures 188.5 158.7 187.5 Total government cash as a % of governmental fund debt service 1,951.0 1,768.5 2,134.4 Very strong management Financial Management Assessment Strong Strong debt and long-term liabilities Debt service as a % of governmental fund expenditures...

Summary