...S&P Global Ratings assigned its '##' long-term rating to the city of West Saint Paul, Minn.'s series 2016B general obligation (GO) reconstruction bonds. At the same time, we affirmed our '##' ratings on the city's existing debt. The outlook is stable. The 2016B bonds are secured by the city's full faith and credit GO pledge and are payable from ad valorem property taxes on all taxable property within the city without limit as to rate or amount. Bond proceeds will be used to finance street reconstruction projects as part of the city's five-year street reconstruction plan. As part of the present rating action, we are affirming our '##' ratings on several of the city's outstanding unlimited-tax GO bonds that are also secured by additional (nonad valorem tax) revenue streams, including special assessments, tax abatements, and tax-increment revenues, though in each case, we rate the city's existing debt to the unlimited-tax GO pledge. The '##' rating reflects our view of the city's:...
