Summary: West Saint Paul, Minnesota; General Obligation

Standard&Poor's Ratings Services assigned its 'AA' long-term rating to West Saint Paul, Minn.'s series 2015B and 2015C general obligation (GO) refunding bonds. At the same time, we affirmed our 'AA' long-term ratings on debt previously issued by the city. The outlook is stable. A pledge of the city's full faith credit and resources and an agreement to levy ad valorem property taxes without limitation as to rate or amount secure both series of bonds. For series 2015B, the city will pledge special assessments from benefitted properties. For the series 2015C, the city is pledging tax increment revenues. Our rating is based on the city's full faith credit and resource unlimited-tax GO pledge, which we feel is the stronger

...Standard & Poor's Ratings Services assigned its '##' long-term rating to West Saint Paul, Minn.'s series 2015B and 2015C general obligation (GO) refunding bonds. At the same time, we affirmed our '##' long-term ratings on debt previously issued by the city. The outlook is stable. A pledge of the city's full faith credit and resources and an agreement to levy ad valorem property taxes without limitation as to rate or amount secure both series of bonds. For series 2015B, the city will pledge special assessments from benefitted properties. For the series 2015C, the city is pledging tax increment revenues. Our rating is based on the city's full faith credit and resource unlimited-tax GO pledge, which we feel is the stronger pledge. It is our understanding that bond proceeds for the series 2015B will be used to refund the series 2008A GO improvement bonds for interest cost savings. It is our understanding that bond proceeds for the series 2015C will be used to refund the series 2005A GO tax...

Summary