Standard&Poor's Ratings Services has assigned its 'AA+' long-term rating to Minnesota's 2009 privately-placed certificates of participation (COPs), which reflects the state's covenant to appropriate debt service sufficient to pay annual debt service. At the same time, Standard&Poor's affirmed its 'AAA' rating on the state's general obligation-backed debt. The outlook is stable. Credit factors supporting the rating include our view of Minnesota'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; Continued strong management that remains committed to structural balance and maintenance of reserves while the state weathers through the current economic downturn; and Low debt levels with rapid amortization
