...S&P Global Ratings raised its long-term rating to '##+' from '##' on White Bear Lake, Minn.'s existing general obligation (GO) bonds. At the same time, we assigned our '##+' long term rating to the city's series 2018A GO bonds and 2018B GO tax abatement bonds. The outlook is stable. The raised rating reflects our view of the city's sustained economic growth, exemplified through sustained net tax capacity and economic market value growth over the last several years, with projections for further increases. Further supporting the raised rating is the city's sustained and strong financial position, supported by very strong reserves. A pledge of the city's full faith credit and resources and its unlimited-property tax pledge secure the bonds. It is our understanding that bond proceeds for the series 2018A will be used to finance various public improvement and acquisition of capital equipment, and that the 2018B bonds will be used to finance the city's ice arena renovation project. The long-term...
