Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to Woodbury, Minn.'s series 2012A general obligation (GO) improvement and 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 2012A bonds are secured by revenue from the city's unlimited-tax GO pledge and special assessments against benefited properties. The city anticipates that the special assessments will cover the majority of
