Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to Woodbury, Minn.'s series 2014A general obligation (GO) bonds. At the same time, Standard&Poor's affirmed its 'AAA' long-term rating on the city's existing GO debt. The outlook is stable. The city's unlimited ad valorem property tax pledge secures these bonds. Woodbury intends to use the series 2014A bonds for financing public improvements within the city and refunding its series 2005B GO bonds for interest cost savings. The rating reflects our assessment of the following factors for the city: Very strong economy, with access to the broad and diversified Minneapolis-St. Paul-Bloomington economy; Very strong budgetary flexibility; Strong budgetary performance; Very strong liquidity, providing very strong cash levels to cover
