The 'AA' Standard&Poor's underlying rating (SPUR) and long-term rating assigned to the city of North Mankato, Minn.'s series 2009B general obligation (GO) utility revenue bonds and 2009C GO sales tax revenue bonds, respectively, reflect the city's: Participation in the Mankato economic base, which includes the city's own economic base; Good to strong economic income and wealth indicators; Very strong financial reserves, in Standard&Poor's Ratings Services' view; and Moderate overall debt burden. The city's high debt carrying charge is a limiting factor. The city's GO pledge secures both the series 2009B and 2009C bonds. The 2009B bond proceeds will finance various utility upgrades to the city's storm water and water utility systems. The 2009C bond proceeds will
