A second credit-rating agency, Fitch Ratings, has joined Standard & Poor’s in reaffirming Missouri’s AAA credit rating, Gov. Jay Nixon announced Thursday.
The ratings, which apply to general obligation bonds issued by the state, help keep borrowing rates low for school districts, local governments and public bodies that borrow money to undertake major projects, according to a news release. Lower interest rates save taxpayers millions of dollars a year, the release stated.
In issuing the AAA rating, Fitch Ratings cited the state’s “conservative financial operations,” its consistent “willingness and ability to support fiscal balance” and healthy financial flexibility, and Missouri’s broad and diverse economy. Both Fitch and Standard & Poor’s noted Nixon’s sound financial management that has resulted in a consistently balanced budget, according to the release.
“For the second time in two weeks, an objective, leading financial authority has praised the fiscal soundness of Missouri state government,” Nixon stated in the release. “We’ve maintained tight financial discipline, balanced our budget, and laid the groundwork for our economy to keep moving forward. We’ll continue that discipline to serve the people of Missouri in the most effective and efficient way possible.”
A copy of the Fitch Ratings report may be found at
