Summary: West Saint Paul, Minnesota; General Obligation; Non-School State Programs

S&P Global Ratings assigned its 'AA+' enhanced long-term rating and 'AA' underlying rating to West Saint Paul, Minn.'s series 2016A general obligation (GO) utility revenue bonds. At the same time, we affirmed our 'AA' rating on the city's existing GO debt. The outlook on the enhanced rating is positive, reflecting that of the state of Minnesota. The outlook on the unenhanced ratings is stable. The 'AA+' enhanced rating reflects the city's eligibility and participation in Minnesota's City Credit Enhancement program, which provides the security of a standing appropriation from Minnesota's general fund in the event of a city's debt payment default. A pledge of the city's full faith credit and resources and an agreement to levy ad valorem property taxes

...S&P Global Ratings assigned its '##+' enhanced long-term rating and '##' underlying rating to West Saint Paul, Minn.'s series 2016A general obligation (GO) utility revenue bonds. At the same time, we affirmed our '##' rating on the city's existing GO debt. The outlook on the enhanced rating is positive, reflecting that of the state of Minnesota. The outlook on the unenhanced ratings is stable. The '##+' enhanced rating reflects the city's eligibility and participation in Minnesota's City Credit Enhancement program, which provides the security of a standing appropriation from Minnesota's general fund in the event of a city's debt payment default. 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 the 2016A bonds. The city is also pledging net revenues paid from the city's sewer and storm water systems. Our rating is based on the city's full faith credit and resource unlimited-tax GO pledge...

Summary