Standard&Poor's Ratings Services assigned its 'AAA' rating and stable outlook to Minneapolis, Minn.'s series 2011 general obligation (GO) improvement bonds, series 2011 library referendum refunding bonds, and series 2011A convention center refunding bonds and affirmed its 'AAA' rating, with a stable outlook, on the city's existing GO debt. The rating reflects our view of the city's: Deep and diverse economic base; Role as a regional economic center for the upper Midwest; Strong financial management, bolstered by, what we consider, very strong fund balances; Relatively low level of funding interdependencies with the federal government; History of actively managing long-term expenditure pressure; and Well-managed capital program with, what we regard as, moderate debt. The city's full-faith-and-credit pledge secures the bonds.
