Standard&Poor's Ratings Services assigned its 'AA' long-term rating to White Bear Lake, Minn.'s series 2012B general obligation improvement bonds. The outlook is stable. The rating reflects our view of the city's: Stable economy, with access to the Minneapolis-St. Paul economic base; Strong to very strong income and market value per capita levels; Very strong financial position, highlighted by maintenance of a very strong general fund balance; Good financial policies; and Low to moderate debt burden ratios. In our view, the preceding strengths are partly offset by the city's declining tax capacity. The bonds will be general obligations of the city for which its full faith, credit, and taxing powers are pledged. In addition, receipts of special assessments levied
