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 2019A general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its 'AA' ratings on the city's existing GO debt. The outlook is stable. The 2019A 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 benefited by improvements financed by the bonds, abated taxes from specific parcels, and net revenues from the sewer system. However, we rate to the city's GO pledge. Bond proceeds will be used for public

...S&P Global Ratings assigned its '##' long-term rating to West Saint Paul, Minn.'s series 2019A general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its '##' ratings on the city's existing GO debt. The outlook is stable. The 2019A 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 benefited by improvements financed by the bonds, abated taxes from specific parcels, and net revenues from the sewer system. However, we rate to the city's GO pledge. Bond proceeds will be used for public improvement projects and improvements to a trail and the sewer system. As part of the present rating action, we are affirming our '##' ratings on several of the city's unlimited-tax GO bonds outstanding that are secured by multiple revenue streams, including special assessments,...

Summary