Credit Highlights S&P Global Ratings assigned its 'AAA' rating to Burnsville, Minn.'s roughly $9.43 million series 2022A general obligation (GO) equipment, improvement, and utility revenue bonds. At the same time, S&P Global Ratings affirmed its 'AAA' rating on the city's existing GO debt. The outlook is stable. The city's full-faith-and-credit and unlimited-taxing-power pledges secure the series 2022A bonds. Officials intend to use series 2022A bond proceeds to finance various capital improvements citywide. Burnsville's key credit strengths include a very strong economy with growing market value and ongoing development. Employers and taxpayers have remained generally stable despite the economic effects of COVID-19 on them. The city maintains very strong reserves despite a slight deficit in fiscal 2021, influenced by street maintenance.
