State Gets Top Credit Rating

Tennessee has received the top ranking from all three major credit rating agencies.

The state had held top ratings from Moody’s Investor Services and Fitch since 2010, but has now added a AAA rating from Standard and Poor’s after a mid-year upgrade.

Standard and Poor’s cited the state’s improving economy, growing reserves and sound management of liabilities in bumping up the rating.

Better bond ratings make it cheaper for the state to borrow money.

Republican Gov. Bill Haslam in a statement Thursday called the top ratings a “historical accomplishment” that reflects the state’s conservative fiscal strategy. Tennessee last held top ratings from all three agencies in 2000.

Haslam in last year’s meetings with ratings agencies touted his plans to privatize more maintenance work at state buildings.

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s