With sound fiscal management and a structurally-balanced budget outlook, national rating agencies assign top bond ratings for the State of Minnesota
ST. PAUL, MN – In separate announcements today, two national bond rating agencies – Fitch Ratings and Standard and Poor’s (S&P) – gave the State of Minnesota their highest “AAA” bond ratings, affirming that Minnesota is in prime fiscal health. Today’s bond rating announcements follow nearly eight years of sound fiscal management from the Dayton Administration – including difficult budget cuts, the elimination of budget shifts and gimmicks that undermined our fiscal health, the long-term stabilization of the State’s revenues, structural budget balances into the future, public employee pension reforms, and historic savings in Minnesota’s Budget Reserves.
“Our state government has made a complete financial turnaround in the past seven-and-a-half years,” said Governor Mark Dayton. “The credit for Minnesota’s success belongs to the people of our state. I thank Minnesotans for their many contributions to the strength of our economy and the stabilization of our State’s budget. And I thank MMB Commissioner Myron Frans and his tremendous staff for their steadfast commitment to improving Minnesota’s financial management.” Continue reading “Minnesota Earns AAA Bond Ratings”