Fitch Ratings – San Francisco – 12 Sep 2025: Fitch Ratings has assigned a ‘AAA’ rating to the following state of Minnesota general obligation (GO) state bonds:
–$550.415 million GO state various purpose bonds, series 2025A;
–$294.915 million GO state trunk highway bonds, series 2025B;
–$25.600 million GO taxable state various purpose bonds, series 2025C;
–$236.195 million GO state various purpose refunding bonds, series 2025D;
–$158.690 million GO state trunk highway refunding bonds, series 2025E.
Fitch has also affirmed the ratings assigned to the following state of Minnesota bonds and programs:
–Minnesota’s Issuer Default Rating (IDR) at ‘AAA’;
–State GO bonds at ‘AAA’;
–State general fund appropriation bonds at ‘AA+’;
–Certificates of participation, series 2014 (legislative office facility project) at ‘AA+’;
— St. Paul Port Authority (State of Minnesota Office Building) lease revenue bonds at ‘AA+’;
–The ‘AA+’ rating assigned to the Minnesota School District Credit Enhancement Program.
The Rating Outlook is Stable.