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Bond Rating

Minnesota's bond ratings are a measure of the state's overall financial position. Independent rating services such as Moody’s, Standard & Poor’s, and Fitch provide evaluations based on financial condition, financial management, the economy, debt management and pension liabilities, and demographic factors. 

Bond ratings are important as they measure the credit risk to the investors and affect the interest rates of the bonds. When Minnesota has a higher bond rating, it indicates to investors that we are a safe investment risk and they will accept a lower rate of return. This translates into lower interest rates for the state and reduces our cost of borrowing. 

Minnesota's bond ratings on its General Obligation Bonds remained steady until 2011 when two rating agencies, Standard & Poor's and Fitch, downgraded the State's rating. Bond ratings have remained steady since then. In addition to the rating, the rating services may issue an outlook indicating the likely future direction of the bond rating. In July of 2015, Standard & Poor’s upgraded the State's outlook from stable to positive.

This document (.xlsx) provides the indicator data in table format.

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