Standard & Poor's Ratings Services said it raised its rating on Roseau County, Minn.'s series 2012A general obligation debt one notch to AA-minus from A-plus.
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The outlook is stable.
"We base the upgrade on the county's historical maintenance of very strong reserves, which at the end of fiscal 2013 totaled nearly $7.8 million, or about 135% of operating expenditures, after accounting for general fund committed reserves that are ultimately available for any use following board approval, as well as reserves held outside of the general fund in the county's "social service" special revenue fund," said Standard & Poor's credit analyst Timothy Barrett.
