Standard&Poor's Ratings Services assigned its 'AA' rating to Minnesota's series 2012 A and B state general fund appropriation refunding bonds. The outlook is stable. At the same time, Standard&Poor's affirmed its 'AA+' rating, and stable outlook, on Minnesota's general obligation (GO) debt outstanding. Credit factors supporting the ratings include our view of the state's: Deep and diverse economy supported by several regional economic hubs and anchored by the Minneapolis-St. Paul metropolitan statistical area, the center of the upper Midwest economy; Strong financial management policies. Minnesota has a solid track record of making budget adjustments in a timely manner. This will be an important credit consideration in the next several years, in our opinion, given the state's
