Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to Woodbury, Minn.'s series 2015A general obligation (GO) improvement 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 2015A bond proceeds for financing a roadway rehabilitation project in the city. The rating reflects the following factors for the city: Very strong economy, with access to a broad and diverse metropolitan statistical area (MSA); Strong management conditions, with "good" financial policies; Strong budgetary performance, with operating results that we expect could deteriorate in the near term, relative to fiscal 2013,
