Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to Minneapolis, Minn.'s series 2014 taxable general obligation (GO) bonds (Downtown East Project). We also affirmed our 'AAA' long-term rating on the city's previously issued GO debt. The outlook is stable. The city's unlimited-tax GO pledge secures the series 2014 bonds. The bonds also are payable from certain developer payments and parking revenue, but our rating is based on the unlimited-tax GO pledge. The city will use the bond proceeds to finance certain costs of a parking ramp, public green space, and site improvements in connection with a mixed-use development project planned near the new Minnesota Vikings football stadium, and capitalized interest. The rating reflects our assessment of the following
