Despite budget problems, Minnesota's credit rating remains high

Minnesota's ongoing budget struggles aren't dragging down its credit rating.

All three major New York bond agencies kept Minnesota's rating the same - and near the top of the charts. That's important because the credit rating determines how much interest the state has to pay on bonds sold to finance construction projects.

The state is preparing to sell $600 million in bonds on Tuesday for an array of previously approved public works projects.

Standard & Poors Corp., Fitch Ratings and Moody's Investor Service all gave Minnesota the same rating as before. Minnesota has an AAA rating from the first two and an Aa1 from the last, a notch below perfect.

State lawmakers have been battling deep budget deficits for a couple of years.