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

S&P Global Ratings assigned its 'AA' long-term rating to West St. Paul, Minn.'s series 2017A general obligation (GO) improvement bonds and 2017B GO street reconstruction bonds. At the same time, we affirmed our 'AA' ratings on the city's existing debt. The outlook is stable. The 2017A and B 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. Series 2017A bond proceeds will be used for street reconstruction projects, while 2017B proceeds will be used to reimburse the city for street reconstruction projects already completed. As part of the present rating action, we are affirming our

...S&P Global Ratings assigned its '##' long-term rating to West St. Paul, Minn.'s series 2017A general obligation (GO) improvement bonds and 2017B GO street reconstruction bonds. At the same time, we affirmed our '##' ratings on the city's existing debt. The outlook is stable. The 2017A and B 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. Series 2017A bond proceeds will be used for street reconstruction projects, while 2017B proceeds will be used to reimburse the city for street reconstruction projects already completed. 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