S&P Global Ratings assigned its 'AA+' long-term rating to White Bear Lake, Minn.'s $3.025 million general obligation (GO) improvement bonds, series 2022A. 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 series 2022A bonds will be used to finance street improvements. Securing the bonds is the city's full faith, credit, and unlimited taxing powers. The city anticipates paying debt service from special assessments and ad valorem property taxes. We rate to the GO pledge. White Bear Lake is located approximately 10 miles northeast of St. Paul, within the Twin Cities metropolitan statistical area (MSA). The city's local economy is experiencing significant residential and commercial development, leading
