Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to Woodbury, Minn.'s series 2013A general obligation (GO) tax abatement bonds and series 2013B GO parks and open space refunding bonds. We also affirmed our 'AAA' long-term rating on the city's previously issued GO debt. The outlook on all ratings is stable. The rating reflects our view of the city's: Participation in the deep and diverse Minneapolis-St. Paul (Twin Cities) metropolitan area economy, Very strong income levels and extremely strong market value per capita, Solid financial operations with very strong reserve levels, and Moderate overall debt burden. The series 2013A and 2013B bonds are secured by the city's unlimited-tax GO pledge, and the rating is based on the GO pledge.
