Bond ratings

A decline in debt service coverage drove S&P's four-notch downgrade for Salinas, California, sewer revenue debt, which it placed on CreditWatch negative.

The ratings agency cited strong and growing activity and favorable economic trends in the region.

Moody's upgraded Minneapolis to Aaa. The outlook is stable, reflecting an expectation that a strong financial profile will help absorb cost pressures.

The lowest-rated municipalities in the state are benefitting the most from current economic tailwinds, Moody's reports.

Suffolk's improved finances won the county its third rating upgrade this year.

A complex refinancing continues Chicago's break from past scoop-and-toss deals but front-loads savings to help balance its budget.

The agency cited the closeness of the entities to Florida's government.

S&P Global Ratings placed Chicago's general obligation bond rating on watch negative Tuesday, warning against heavy reliance on one-time budget solutions.

Credit ratings and the role of rating agencies have changed in response to an evolving market over the past 16 years, according to speakers during an online California Debt and Investment Advisory Commission.

The agencies cited the authority's strong performance and position.