Summary: Minnesota; Appropriations; General Obligation

S&P Global Ratings revised its outlook to stable from negative and affirmed its 'AAA' rating on the State of Minnesota's general obligation (GO) debt and its 'AA+' rating on the state's appropriation-backed debt. At the same time, S&P Global Ratings assigned its 'AAA' rating to the state's approximately $568.2 million series 2021A various-purpose GO bonds (tax-exempt) and approximately $311 million series 2021B trunk highway GO bonds (tax-exempt). The series 2021A bonds will finance various programs and capital projects, generally including educational facilities, parks, pollution control facilities, transportation, natural resources, and agricultural enterprises. The series 2021B bonds will finance construction and maintenance of the state's trunk highway system. Minnesota's GO, full-faith-and-credit pledge secures the 2021A and B bonds. Its GO bonds

...S&P Global Ratings revised its outlook to stable from negative and affirmed its '###' rating on the State of Minnesota's general obligation (GO) debt and its '##+' rating on the state's appropriation-backed debt. At the same time, S&P Global Ratings assigned its '###' rating to the state's approximately $568.2 million series 2021A various-purpose GO bonds (tax-exempt) and approximately $311 million series 2021B trunk highway GO bonds (tax-exempt). The series 2021A bonds will finance various programs and capital projects, generally including educational facilities, parks, pollution control facilities, transportation, natural resources, and agricultural enterprises. The series 2021B bonds will finance construction and maintenance of the state's trunk highway system. Minnesota's GO, full-faith-and-credit pledge secures the 2021A and B bonds. Its GO bonds are eligible to be rated above the sovereign because we believe the state can maintain better credit characteristics than the U.S. in a stress...

Summary