Utah one of 9 states to earn 'triple-triple' bond rating
Ravell Call, Deseret News
SALT LAKE CITY — The Utah Governor's Office announced Friday that Utah has received a AAA general obligation bond rating by all three bonding agencies — Standard & Poor’s, Moody’s Investors Service and Fitch Ratings.
Utah is one of only nine states to earn a AAA bond rating by all three of the rating agencies, known as a “triple-triple” rating.
Utah’s history of AAA bond ratings dates back to 1965 when Standard & Poor’s initiated its rating system. The state’s AAA rating with Moody’s dates back to 1973, and the Fitch Ratings date back to 1992.
“Utah’s consistent triple-triple rating is evidence of Utah’s deep-rooted commitment to fiscal discipline and budgetary restraint,” said Gov. Gary Herbert. “Utah is indeed fortunate to belong to an elite group of states that continues to lead the nation in economic growth and stability.”
The rationale for Utah’s ratings included economy growth and diversity; conservative debt and fiscal policies keeping debt levels at a moderate rate; timely action when addressing budgetary imbalances; a history of taking action to close budgetary gaps and prioritized building reserves; and successfully managed capital spending, especially for education and transportation.
“All three agencies offered a clear message,” said state treasurer Richard Ellis. “Utah exemplifies proper fiscal management and economic strength.”
- Riverton sees 550-acre LDS Church property...
- Paradigm shift: Fewer Utah juvenile offenders...
- About Utah: Selling bikes the new-fashioned way
- Police ID man who barricaded himself in motor...
- Police investigating man who barricaded...
- Should Utah have 'blended sentences' for teen...
- Teen in critical condition after slamming...
- Woman killed by mixer at Sandy grocery store...
- Supporters of Oregon occupier honor... 52
- Feds say Orem man duped hundreds of... 28
- Meagan Grunwald won't get a new trial... 25
- Are you willing to take a pledge to... 19
- Woman killed by mixer at Sandy grocery... 16
- Paradigm shift: Fewer Utah juvenile... 16
- Video involving officer whose ear was... 15
- Should scientists be allowed to change... 10