S&P Global Ratings assigned its 'AA+' long-term rating to White Bear Lake, Minn.'s general obligation (GO) bonds, series 2021A. 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 improvements, water system improvements, water meter replacements, and equipment purchases. Securing the bonds is the city's full faith, credit, and unlimited taxing powers. The city anticipates paying debt service from special assessments, utility revenue, and ad valorem property taxes. We rate to the GO pledge. Located in the Minneapolis-St. Paul metropolitan statistical area (MSA), the city's local economy is experiencing residential and commercial development despite the recent economic volatility stemming from
