Idaho achieves AAA credit rating, saving taxpayer dollars and signaling strength of state economy – Office of the Governor – Governor Brad Little

Boise, Idaho – Fitch Ratings announced today it upgraded Idaho to the best credit rating a state can achieve – the AAA credit rating – a step that saves taxpayer dollars on financing of road construction and other public works projects and signals the structural strength of Idaho state government and our economy.
At any one time, only about 10 states have carried the AAA credit rating, indicative of a high level of confidence in how a state’s budget is managed and the strength of the state’s economy. The higher a state’s credit rating, the lower the cost to repay its bonds, saving taxpayer dollars on interest costs.
Governor Little’s comment on the historic credit rating follows:
“We all know the value of an excellent credit score in our personal finances – it enables us to acquire loans at a lower interest rate, saving money in our household budgets. It also indicates discipline and responsibility in how we spend our money. The same is true for states when they achieve the best credit rating out there.
 “Thanks to our diligent and unrelenting focus on reining in state spending and saving healthy amounts for rainy days, Idaho has received the AAA credit rating for the first time, and I am very proud. When I took office as Idaho’s 33rd Governor close to three years ago, one of my biggest priorities and one of our most important fiscal accomplishments would be to achieve the AAA credit rating.
 “This achievement may not grab headlines the way politically charged issues can, but let me tell you – this will have an impact on your wallets. This is what good government is all about. I appreciate my partners in the Legislature for sharing my passion for maintaining a lean state budget and stable rainy-day funds. Our partners in the private sector, too, have done a tremendous job propelling Idaho’s economy forward.”
Highlights from the Fitch Report on Idaho’s upgraded credit rating include:
View the Fitch Ratings report for Idaho here.
 
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State Capitol
PO Box 83720
Boise, ID 83720
Phone: (208) 334-2100
Fax: (208) 854-3036

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