NC Retains it’s AAA Rating

NorthCarolinaSealIt was announced this week that North Carolina retained its “AAA” rating by all three agencies, the highest credit rating available to state governments. Keys to the rating according to Fitch Ratings include a low debt burden, strong debt management practices, an improving economy, and one of the strongest pension funds in the nation. “It’s great news that North Carolina has retained its ‘AAA’ credit rating,” said Governor McCrory. “Our attention to efficient spending practices, cash flow and low debt continue to prove that the state is financially stable. Our prudent and effective financial practices continue to provide a strong signal to companies thinking of relocating to North Carolina or those thinking of expanding.” North Carolina is one of 10 states in the country to have the highest rating by all three agencies, Standard & Poor’s, Moody’s Investors Service and Fitch Ratings. “One of my top priorities is protecting the state’s ‘AAA’ bond rating,” said State Treasurer Janet Cowell. “That rating keeps financing costs low and it signals to businesses looking to locate here that we are a state that’s solid. I appreciate the strong partnership we have with the governor’s administration and General Assembly in continuing conservative debt management and in funding our pension obligations, which are key to this top rating.”