State receives second AAA credit rating

A second credit-rating agency, Fitch Ratings, has reaffirmed Missouri's AAA credit rating. The result, announced in a Sept. 6 news release, comes about two weeks after Standard & Poor's gave the state the same rating.

The ratings apply to general obligation bonds issued by the state and help to keep interest rates low on loans issued for projects managed by school districts, local governments and public bodies.

“For the second time in two weeks, an objective, leading financial authority has praised the fiscal soundness of Missouri state government,” Gov. Jay Nixon said in the release. “We’ll continue that discipline to serve the people of Missouri in the most effective and efficient way possible.”

In Fitch's report, available here, Missouri's rating outlook was noted as stable. In addition to its AAA general obligation bond rating, the state also received:

• AA+ for certificates of participation;
• AA+ for board special obligation and state building bonds;
• AA+ for Missouri Development Finance Board leasehold revenue bonds;
• AA+ for Missouri Health and Educational Facilities Authority educational facilities revenue bonds;
• AA+ for special obligation refunding bonds; and
• AA for Regional Convention & Sports Complex Authority state appropriation bonds.

In awarding the AAA general obligation rating, the report noted Missouri's "conservative financial operations, a debt burden at the lower end of the moderate range, and a broad and diverse economy."[[In-content Ad]]