CHICAGO – Minnesota lost its final triple-A rating Friday when Standard & Poor’s lowered its rating one notch to AA-plus as it chided the state for its continued reliance on one-time financial maneuvers to deal with its budget deficit.

The state’s diminished reserve levels will make it all the harder to balance the next budget as the benefits of the one-shots that helped eliminate a $5 billion deficit end. “The downgrade reflects what we view as the state’s ongoing reliance on nonrecurring measures to balance its budget, which we believe will contribute to continued structural imbalance,” wrote analyst Robin Prunty.

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