Standard&Poor's Ratings Services assigned its 'AAA' rating, and stable outlook, to Minneapolis, Minn.'s series 2010 general obligation (GO) improvement 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 good fund balances; History of actively managing long-term expenditure pressures; and Well-managed capital program with moderate debt levels. The city's full faith and credit pledge secures the bonds. Officials plan to use series 2010 GO improvement bond proceeds to finance capital improvement projects citywide. Minneapolis, with a population estimate of 390,000, and St. Paul, Minn.
