Summary: Blaine, Minnesota; General Obligation

S&P Global Ratings assigned its 'AAA' rating to Blaine, Minn.'s anticipated $24.7 million series 2023A general obligation (GO) improvement, utility, and equipment 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 also 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 2023A bonds. Much of Blaine's GO debt outstanding is also secured by additional revenue pledges, including special assessments and utility revenues, but we rate all debt based on the city's GO pledge. Series

...Most recent Historical information 2022 2021 2020 Direct debt 10-year amortization (%) 65 Required pension contribution % of governmental fund expenditures 4.5 OPEB actual contribution % of governmental fund expenditures 0.0 Strong institutional framework EBI--Effective buying income. OPEB--Other postemployment benefits. Data points and ratios may reflect analytical adjustments....

Summary