Minnesota

Standard & Poor’s raised the city of Victoria’s general obligation rating one notch to AA-plus in recognition of good financial management that has contributed to positive general fund operations and the maintenance of very strong reserves.

CHICAGO — Minnesota today launches its first formal retail-order period for a general obligation sale before opening the $475 million issue of new-money bonds and possibly some refunding bonds to institutional buyers on Thursday.

The Minneapolis Special School District won a one-notch upgrade in its issuer credit rating to AA, Standard & Poor’s reward for management’s successful efforts to control spending and for the fiscal boost provided by voters who recently approved a $60 million annual levy.

CHICAGO — In a transaction that will mark the state’s first-ever use of negotiation to sell its general obligation bonds, Minnesota is putting the finishing touches on a $480 million new-money issue with an eye towards testing retail appetite for its top-rated paper.