Minnesota’s Debt Outlook Upgraded by S&P
St. Paul, MN (KROC-AM News) - A Wall Street firm has upgraded its outlook for the State of Minnesota’s debt from stable to positive.
The change was made by Standard and Poor’s for the largest issuance of General Obligation bonds in state history. The $1 billion dollar bond sale Wednesday morning drew an interest rate of 2.93-percent.
While Standard and Poor’s indicated it could raise Minnesota’s bond rating in the future, it affirmed the state’s current AA+ rating, which matches the rating from Fitches. Moody’s rating service kept Minnesota at Aa1 with a stable outlook.