The rating upgrade on Minnesota's debt reflects the state's extremely strong financial position and fiscal management with established reserves that should be sufficient to maintain the state's creditworthiness during a future economic downturn. Other rating factors include: * The state's deep, steadily growing economic base that is diversified among services, trade, and manufacturing; * Per capita income levels that exceed the national average; and * Moderate debt with manageable future capital needs. Although Minnesota's labor force has some slight concentration in the manufacturing base, the diversity among other sectors enables the state to perform well during national economic cycles. Recent employment trends are exceeding projections with expansions in computer and business services and in the finance sector fueling the economic
