S&P upgrades North St. Paul to AA+; city weighs levy, debt and capital priorities

City Manager Brian told the North St. Paul City Council at a workshop that Standard & Poor’s upgraded the city’s bond rating from AA to AA+ after a bond-rating call and submission of financial materials, a change officials said reflects stronger reserves and improved fiscal planning.

Quoting S&P’s analysis, Brian said the upgrade “reflects our view of the city's material increase in available reserves to stronger levels than we expected and we expected to sustain. It also reflects our view of the city's relatively recent adoption of a formal fund balance policy as well as a regularly updated long term operating forecast, which we believe demonstrate its commitment to maintaining structural balance.” He credited council direction, department heads and staff for…