Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to Burnsville, Minn.'s general obligation (GO) series 2014A improvement and utility revenue bonds. At the same time, we affirmed our 'AAA' issuer credit rating (ICR) and 'AAA' long-term rating on the city's existing GO bonds. The outlook is stable. Burnsville's unlimited-tax GO pledge secures the bonds. The 2014A bond proceeds will be used for street, water, and sewer improvements in the city. We understand the city intends to pay debt service from special assessments and net utility revenues. The rating reflects our assessment of the following factors: Very strong budgetary flexibility with 2013 (audited) adjusted available reserves at 45.3% of general fund expenditures; Very strong liquidity providing sufficient cash and
