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

S&P Global Ratings assigned its 'AA' long-term rating to West Saint Paul, Minn.'s series 2018A general obligation (GO) bonds. At the same time, we affirmed our 'AA' ratings on the city's existing GO debt. The outlook is stable. The 2018A bonds are general obligations of the city for which its full faith, credit, and taxing powers are pledged without limitation as to rate or amount. The city anticipates that the debt service will be paid from a combination of special assessments levied against properties benefitted by improvements financed by the bonds. However, we rate to the city's GO pledge. Bond proceeds will be used for street reconstruction projects. As part of the present rating action, we are affirming our 'AA'

...S&P Global Ratings assigned its '##' long-term rating to West Saint Paul, Minn.'s series 2018A general obligation (GO) bonds. At the same time, we affirmed our '##' ratings on the city's existing GO debt. The outlook is stable. The 2018A bonds are general obligations of the city for which its full faith, credit, and taxing powers are pledged without limitation as to rate or amount. The city anticipates that the debt service will be paid from a combination of special assessments levied against properties benefitted by improvements financed by the bonds. However, we rate to the city's GO pledge. Bond proceeds will be used for street reconstruction projects. 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 secured by multiple 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....

Summary