Fitch Ratings: Fitch Rates Georgia's $1.3B GO Bonds 'AAA'; Outlook Stable
Fitch Ratings has assigned a 'AAA' rating to $1.27 billion in State of Georgia general obligation (GO) bonds
Fitch has also affirmed the Long-term Issuer Default Rating (IDR) of the State of Georgia and the ratings on its outstanding GO and state guaranteed revenue bonds issued by the State Road and Tollway Authority at 'AAA
Henry Herald: Georgia Secures AAA Bond Rating for 2022
Gov. Brian Kemp announced Monday that Georgia has again secured AAA ratings with a stable outlook from each of the three main credit rating agencies: FitchRatings, Moody’s Investors Service, and S&P Global Ratings.
Of the states that issue general obligation bonds, only nine currently meet this standard.
Georgia’s upcoming sale of general obligation bonds will fund $754 million in capital projects and, if interest rates permit, also refund outstanding bonds to achieve debt service savings on a portion of the state’s outstanding debt. The majority of the bond proceeds will fund K-12 education, higher education, public safety and economic development projects. The Peach State’s AAA ratings will enable the state to sell its bonds at the lowest possible interest costs when it takes bids for those bonds on June 22. The credit rating agencies’ individual ratings, which are AAA, Aaa, and AAA, respectively, are the highest ratings possible, and indicative of sound fiscal management.
Capitol Beat: Georgia scores AAA bond ratings again this year
Each of the three main credit rating agencies has given Georgia a rating of AAA with a stable outlook, which will yield savings when the state sells bonds next week.
The state will accept bids June 22 on general obligation bonds to fund $754 million in capital projects, primarily for K-12 and higher education, public safety and economic development.
“Securing the highest possible state bond ratings for yet another year is the result of decades of conservative state leadership and our balanced approach to protect both lives and livelihoods throughout the COVID-19 pandemic,” Gov. Brian Kemp said Monday.
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