Summary: Minneapolis; General Obligation

S&P Global Ratings assigned its 'AAA' rating to Minneapolis' series 2016 general obligation (GO) improvement and various purpose bonds. At the same time, we affirmed our 'AAA' ratings on the city's existing GO debt. The outlook is stable. The bonds are secured by the city's GO pledge and are payable from ad valorem tax against all taxable property within the city without limit as to rate or amount. The bonds are additionally secured by special assessments, parking revenues, and net revenues of the city's water and sanitary sewer systems. Though secured by multiple revenue streams, we rate the bonds to the city's GO pledge, and we similarly rate several of its existing GO bonds that are additionally secured by other

...S&P Global Ratings assigned its '###' rating to Minneapolis' series 2016 general obligation (GO) improvement and various purpose bonds. At the same time, we affirmed our '###' ratings on the city's existing GO debt. The outlook is stable. The bonds are secured by the city's GO pledge and are payable from ad valorem tax against all taxable property within the city without limit as to rate or amount. The bonds are additionally secured by special assessments, parking revenues, and net revenues of the city's water and sanitary sewer systems. Though secured by multiple revenue streams, we rate the bonds to the city's GO pledge, and we similarly rate several of its existing GO bonds that are additionally secured by other revenues to its GO pledge. City officials will use bond proceeds to finance various capital projects and to refund 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...

Summary