Summary: Woodbury, Minnesota; General Obligation

S&P Global Ratings assigned its 'AAA' long-term rating to Woodbury, Minn.'s $16.2 million series 2024A general obligation (GO) bonds. At the same time, we affirmed our 'AAA' rating on the city's existing GO bonds. The outlook is stable. The series 2024A bonds are secured by a pledge of the city's full faith and credit and power to levy ad valorem taxes without limitation as to rate or amount. The city plans to pay the debt service on the tax abatement portion of the bonds from tax abatements from specific parcels up to the principal amount of the tax abatement portion. And it plans to pay the debt service on the street improvement portion of the bonds from special assessments levied

...Most recent Historical information 2022 2021 2020 Very strong economy Projected per capita EBI % of U.S. 148 Market value per capita ($) 197,411 Population 74,467 73,295 72,503 County unemployment rate(%) 2.3 Market value ($000) 14,700,627 12,646,125 11,389,488 10,627,530 Ten largest taxpayers % of taxable value 7.0 Strong budgetary performance Operating fund result % of expenditures 5.8 (2.1) 2.2 Total governmental fund result % of expenditures 5.5 4.7 2.6 Very strong budgetary flexibility Available reserves % of operating expenditures 37.8 35.1 34.6 Total available reserves ($000) 16,417 13,895 14,760 Very strong liquidity Total government cash % of governmental fund expenditures 280 283 259 Total government cash % of governmental fund debt service 3,685 3,747 3,376 Strong management Financial Management Assessment Good Adequate debt & long-term liabilities Debt service % of governmental fund expenditures 7.6 7.5 7.7 Net direct debt % of governmental fund revenue 71 Overall net debt %...

Summary