Standard & Poor's upgrades Minnesota's outlook

Friday, August 7, 2015

Tax dollars at work…
From the ST. PAUL PIONEER PRESS: Several years after a 2011 government shutdown and budget shifts caused Minnesota to lose its top credit rating, the state is slowly starting to earn back investors' trust. Should Minnesota return to a triple-A bond rating, the state could save millions of dollars in lower interest payments over the 20-year lifespan of a bond. Some other units of government that don't have their own credit ratings also benefit when the state improves its rating. At least one rating agency believes Minnesota is on the path to earning that top score again. On Wednesday, Standard & Poor's changed its outlook from stable to positive -- which means it "could raise the rating over the next two years" if Minnesota continues to show a strong state budget.