Standard and Poor's Reaffirms Indiana's AAA Credit Rating

Statement

In a report released yesterday, Standard and Poor's reaffirmed the state of Indiana's AAA credit rating. Indiana has held AAA ratings with all three agencies, Standard and Poor's, Moody's and Fitch Ratings, since April of 2010. The AAA rating is the highest possible rating of the state's finances. It signals to families and businesses already in Indiana or thinking of moving here that Indiana is a strong and stable environment for investment, growth, and keeping more of what they earn.

"Our record of passing honestly balanced budgets, maintaining sufficient reserves while cutting taxes for working Hoosiers and employers has once again been affirmed as the way to grow a more prosperous Indiana," said Governor Mike Pence. "In just the last few years, our state has added nearly 140,000 new jobs; our labor force participation rates continue to outpace national averages; and, more Hoosiers are working than ever before. Rest assured that this administration will continue to advance policies that demonstrate responsible fiscal leadership and make appropriate investments in areas like workforce, education and infrastructure. That is what makes Indiana a state that works."

Regarding Standard and Poor's issuer credit rating (ICR), the report states, "The AAA ICR on Indiana reflects our view of the state's proven commitment to and significant focus on strengthening the budget through extensive use of management controls that have led to maintenance of structural balance, growth in reserve levels, and continued funding of long-term liabilities."

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