Gov. Mike Pence said Thursday that state government has maintained its AAA credit ratings from all three independent bond agencies, which the helps Indiana borrow at lower rates.
Indiana has held AAA ratings – the highest available – with Standard and Poor’s, Moody’s, and Fitch Ratings since April of 2010.
“Fiscal discipline is the foundation of our prosperity,” Pence said in a prepared statement.
“Today’s news is a testament to the hard work and discipline of state employees at every level and the fiscal leadership of the Indiana General Assembly,” he said. “In the years ahead, our administration remains committed to maintaining a fiscally stable environment within our state for the betterment of both Hoosier families and businesses.”
The ratings are generally based on a state’s economy, government finances, long-term debt and history in paying off debt. The ratings affect the interest rates that investors are willing to pay for bonds issued for projects including roads, university buildings, and other public works.