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.

The review was conducted ahead of the sale of $10 million of refunding general obligation bonds and $23 million of refunding certificates of participation. The district’s issuer credit rating on its COPs was raised one notch to AA-minus. The COPs are backed by the district’s pledge to make lease rental payments to cover debt service through an annual levy.

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