Fitch Ratings Reaffirms Missouri's AAA Status; Report Cites State's "Willingness and Ability to Support Fiscal Balance"

Press Release

A second top global credit-rating agency, Fitch Ratings, has joined Standard & Poor's in reaffirming Missouri's AAA credit rating, Gov. Jay Nixon announced today. 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. Lower interest rates save taxpayers millions of dollars a year.

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 Gov. Nixon's sound financial management that has resulted in a consistently balanced budget.

"For the second time in two weeks, an objective, leading financial authority has praised the fiscal soundness of Missouri state government," Gov. Nixon said. "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."

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