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� STANDARD & POOR'S <br />� RATINGS SERVICES <br />McGRAW HILL FINANCIAL <br />February 3, 2014 <br />City of Roseville <br />2660 Civic Center Drive <br />Roseville, MN 55113 <br />Attention: Mr. Chris Miller, Finance Director <br />Re: Roseville, Minnesota, Various Series <br />Dear Mr. Miller: <br />Attachment A <br />130 East Randolph Street <br />su�te zsoo <br />Chicago, IL 60601 <br />te1312-233-7000 <br />reference no.: 6057001 <br />Standard & Poor's Ratings Services ("Ratings Services") has reviewed the rating on the above- <br />listed obligations. Based on our review, we have raised our credit rating from "AA" to "AAA" <br />while affirming the stable outlook A copy of the rationale supporting the rating and outlook is <br />enclosed. <br />This letter constitutes Ratings Services' permission for you to disseminate the above rating to <br />interested parties in accordance with applicable laws and regulations. However, permission for <br />such dissemination (other than to professional advisors bound by appropriate confidentiality <br />arrangements) will become effective only after we have released the rating on <br />standardandpoors.com. Any dissemination on any Website by you or your agents shall include the <br />full analysis for the rating, including any updates, where applicable. <br />To maintain the rating, Standard & Poor's must receive all relevant financial and other <br />information, including notice of material changes to financial and other information provided to us <br />and in relevant documents, as soon as such information is available. You understand that Ratings <br />Services relies on you and your agents and advisors for the accuracy, timeliness and completeness <br />of the information submitted in connection with the rating and the continued flow of material <br />information as part of the surveillance process. Please send all information via electronic delivery <br />to pubfin statelocal�ovt(c�standardand�oors.com. If SEC rule 17g-5 is applicable, you may post <br />such information on the appropriate website. For any information not available in electronic format <br />or posted on the applicable website, <br />Please send hard copies to: <br />Standard & Poor's Ratings Services <br />Public Finance Department <br />55 Water Street <br />New York, NY 10041-0003 <br />The rating is subject to the Terms and Conditions, if any, attached to the Engagement Letter <br />applicable to the rating. In the absence of such Engagement Letter and Terms and Conditions, the <br />