Fitch, S&P reaffirm state's AAA credit rating

Fitch Ratings and Standard & Poor's last week reaffirmed Missouri's AAA credit rating, the highest score given by the agencies.

The ratings apply to general obligation bonds issued by the state and helps to keep interest rates lower for school districts, local governments and public bodies that borrow money for major projects, according to a news release.

“Our top AAA credit rating saves taxpayers millions in interest and demonstrates to businesses around the world that Missouri is a safe place to grow and invest,” Gov. Jay Nixon said in the release. “These strong ratings are a testament to our strong record of fiscal discipline, and they reinforce the need to continue to manage the state budget in a fiscally responsible way.”

Nixon pointed to comments from both agencies regarding his administration's budgetary practices as a basic for the ratings.

“We believe that the strength of the budget management and government framework has allowed the state to maintain reserve and liquidity levels that are consistent with a AAA rating," Standard & Poor's officials wrote in its report.