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S&P briefing: Minnesota’s AAA rating rests on strong reserves and management; analysts watching wage and tax dynamics
Summary
S&P Global Ratings briefed the committee on Feb. 25 about state credit criteria and Minnesota’s AAA general‑obligation rating, highlighting strong reserves, management practices and a healthy economy while flagging risks from rapid expenditure growth, wage pressures, tax policy changes and demographic trends.
S&P Global Ratings Managing Director Jeffrey Buswick briefed senators on Feb. 25 about the firm’s approach to rating state general‑obligation debt and explained why Minnesota retains a AAA rating under the agency’s criteria.
Key points from the briefing: S&P analysts evaluate an institutional framework (legal predictability, revenue and expenditure balance, transparency) and an issuer’s individual credit profile across economy, financial performance, reserves/liquidity, management and debt/liabilities. Buswick said…
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