...S&P Global Ratings assigned its '###' long-term rating to Burnsville, Minn.'s series 2018A general obligation (GO) tax abatement, improvement, and utility bonds. At the same time, we affirmed our '###' long-term rating on the city's existing GO debt. The outlook is stable. The city's GO unlimited-tax pledge secures the series 2018A bonds. The city additionally pledges abatement revenue, special assessment revenue, and net revenue of the water and sewer systems for payment of debt service of the series 2018A bonds. Its existing GO debt also pledges certain revenue for payment of debt service. However, we rate to the GO pledge, which we view as the stronger security. Bond proceeds will be used for annual street improvements, replacement of the city's ice center roof, and to refund its existing debt for interest cost savings. The city'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. can in a stress...
