Standard & Poor’s last week upgraded Morrison County’s general obligation debt three notches to AA from A in recognition of its stable financial operations, very strong reserves and good financial management.
The county benefits from its participation in the Brainerd and St. Cloud metropolitan area economy, wealth levels that are considered extremely strong, the maintenance of very strong financial reserves levels, and very low debt levels coupled with rapid amortization.
“The stable outlook reflects Standard & Poor’s expectation that county management will maintain at least strong reserves and that management will continue to monitor expenditures due to state aid reductions,” wrote analyst Linda Merus.
The county is located in central Minnesota and is one of the state’s major dairy producers.