Standard&Poor's Ratings Services assigned its 'AAA/A-1+' rating to Minnesota Agricultural and Economic Development Board's bonds issued for Essentia Health Obligated Group. The long-term component of the 'AAA' rating on the bonds is based on bond insurance provided by Assured Guaranty Corp. The long-term component of the rating represents the likelihood that debt service will be paid over the life of the transaction. The 'A-1+' short-term component of the liquidity rating is provided by three banks. The banks are providing these issues liquidity through standby bond purchase agreements (SBPAs) for each subseries of bonds. These banks are KBC Bank (AA-/A-1+), U.S. Bank N.A. (AA+/A-1+), and Wells Fargo Bank (AAA/A-1+). The SBPAs will be available to pay remarketing shortfalls upon
