Standard & Poor's Ratings Services said it raised its underlying rating to AA-minus from A-plus on Hubbard County Housing & Redevelopment Authority, Minn.'s series 2008 general obligation housing development revenue bonds, issued for Hubbard County.
The outlook is stable.
"The raised rating reflects our view of the county's maintenance of a very strong available reserve balance," said Standard & Poor's credit analyst Andrew Truckenmiller.
Hubbard County is located in north central Minnesota about 190 miles northwest of the Minneapolis/St. Paul area and covers approximately 932 square miles. Residents have access to employment in neighboring counties and also locally in Park Rapids (the county seat). More than 300 lakes are located in the county, making it a tourist destination.
