S&P Global Ratings assigned its 'AA+' long-term rating and stable outlook to the State of Minnesota's $92.15 million 911 revenue refunding series (Public Safety Radio Communications System Project) 2016 bonds. At the same time, S&P Global Ratings affirmed its 'AA+' rating on the state's revenue bonds outstanding. The outlook on all is stable. The ratings reflect what we view as: The high essentiality of the emergency 911 system and a demonstrated history of legislative support for the program; A stable statewide fee base that has experienced steady growth over time; Strong coverage of debt service on all bonds secured by the 911 fee, with fiscal 2016 revenues covering maximum annual debt service (MADS) at 3.02x; No plans for additional debt,
