Summary: Elko New Market, Minnesota; General Obligation - S&P Global Ratings’ Credit Research

Summary: Elko New Market, Minnesota; General Obligation

Summary: Elko New Market, Minnesota; General Obligation - S&P Global Ratings’ Credit Research
Summary: Elko New Market, Minnesota; General Obligation
Published May 07, 2021
7 pages (2923 words) — Published May 07, 2021
Price US$ 225.00  |  Buy this Report Now

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Abstract:

S&P Global Ratings assigned its 'AA+' long-term rating to Elko New Market, Minn.'s $4.2 million series 2021A general obligation (GO) bonds. At the same time, we affirmed our 'AA+' long-term rating on the city's GO debt outstanding. The outlook is stable. The city's full faith and credit and ability to levy unlimited ad valorem property taxes secure the bonds. The city is also pledging net revenue from its water, sewer, and storm sewer system utilities, but we rate to the GO pledge. Bond proceeds will help finance acquisition of land and various water supply, wastewater collection, and disposal service projects within the city. Stable operations and conservative budgeting practices have led to the maintenance of very strong reserves. The city's

  
Brief Excerpt:

...S&P Global Ratings assigned its '##+' long-term rating to Elko New Market, Minn.'s $4.2 million series 2021A general obligation (GO) bonds. At the same time, we affirmed our '##+' long-term rating on the city's GO debt outstanding. The outlook is stable. The city's full faith and credit and ability to levy unlimited ad valorem property taxes secure the bonds. The city is also pledging net revenue from its water, sewer, and storm sewer system utilities, but we rate to the GO pledge. Bond proceeds will help finance acquisition of land and various water supply, wastewater collection, and disposal service projects within the city....

  
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Elko New Market, Minnesota; General Obligation" May 07, 2021. Alacra Store. Mar 28, 2024. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Elko-New-Market-Minnesota-General-Obligation-2643691>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Elko New Market, Minnesota; General Obligation May 07, 2021. New York, NY: Alacra Store. Retrieved Mar 28, 2024 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Elko-New-Market-Minnesota-General-Obligation-2643691>
  
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