The 'AAA' rating on Minnesota's GO bonds reflects: A deep economy, which is diversified among services, trade, and manufacturing; Strong financial management systems with significant financial reserves; and A moderate debt burden with manageable future capital needs. Minnesota's economic diversity enables the state to perform well, compared with the U.S., during cyclical economic downturns, despite some concentration in the manufacturing sector. Employment and income data indicate steady job creation since late 1994, with the Twin Cities area leading the charge. The services sector, particularly business and health care services, and the construction sector have performed particularly well. The state's strong economy since the mid-1990s has resulted in strong revenue performance compared to estimated and budgeted amounts, enabling the state to
