High Bond Ratings For 2nd Day in a Row; Another AAA Rating for North Carolina

More good news from bonding agencies today - as S&P assigned another AAA bond rating to North Carolina’s outstanding general obligation bonds. This is the highest ranking a state can be given and indicates it is both financially stable and has a high level of credit worthiness. 

State Treasurer Brad Briner points out this is the second of three major bonding agencies who have now scrutinized North Carolina’s books and come away with the same assessment of AAA. “It is not by accident that North Carolina is continually recognized for its fiscal management. The legislature put us on a path to financial success, and work done by my team and others in state government have effectively managed that money in a transparent and prudent way.”

In its rating, S&P said its rating “reflects the state’s strong economic growth, ability to manage revenue to support expenditure mandates, well-defined financial management policies, and commitment to maintaining balanced biennial budgets and very strong reserves.”  

S&P also gave the refunding general obligation bonds a AAA and the limited obligation refunding bond series a high AA+ rating.

Yesterday, Moody’s announced its Aaa bond rating for the state.