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.”
- Lehi toddler killed in accident remembered as...
- Preparing to split up, LDS General Primary...
- A river runs dry: Water and the future of...
- Cyclist killed on training run after...
- Photo gallery: Holi festival immerses Utahns...
- Utah taxpayers will pay millions more in wake...
- American Fork cyclist killed during training...
- Boy, 3, killed in Lehi scooter accident
- President Obama to make first trip to... 91
- BYU student claims he was evicted after... 57
- Utah taxpayers will pay millions more... 40
- Sen. Harry Reid's retirement recalls... 39
- Tea party movement still strong,... 23
- Cyclist killed on training run after... 21
- A river runs dry: Water and the future... 14
- Court battle settled over Susan Powell... 11