Summary: White Bear Lake, Minnesota; General Obligation

S&P Global Ratings assigned its 'AA+' long-term rating to White Bear Lake, Minn.'s general obligation (GO) bonds, series 2020A. At the same time, we affirmed our 'AA+' long-term rating on the city's outstanding GO debt. The outlook is stable. Proceeds from the bonds will be used to finance street improvement and infrastructure projects, and capital equipment purchases. Securing the bonds is the city's full faith, credit, and unlimited taxing powers. The city anticipates that debt service payments will be paid from special assessments, utility revenues, and ad valorem property taxes. We rate to the GO pledge. The city has experienced some minimal impacts from the COVID-19 pandemic and the recession, though we note that uncertainties regarding further effects on state

...S&P Global Ratings assigned its '##+' long-term rating to White Bear Lake, Minn.'s general obligation (GO) bonds, series 2020A. At the same time, we affirmed our '##+' long-term rating on the city's outstanding GO debt. The outlook is stable. Proceeds from the bonds will be used to finance street improvement and infrastructure projects, and capital equipment purchases. Securing the bonds is the city's full faith, credit, and unlimited taxing powers. The city anticipates that debt service payments will be paid from special assessments, utility revenues, and ad valorem property taxes. We rate to the GO pledge....

Summary