CHICAGO -- Minnesota will take competitive bids Tuesday on $470 million of general obligation bonds to finance statewide capital projects as its appropriation-backed issue for the new Minnesota Vikings professional football stadium waits in the wings.

Ahead of the GO issue, the three major rating agencies affirmed the state’s high-grade ratings and Moody’s Investors Service revised its outlook to stable from negative. The state carries a AA-plus from Fitch Ratings and Standard & Poor’s and a Aa1 from Moody’s. The state has $5.5 billion of GO debt and supports another $1.1 billion of debt with various appropriation credits.

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