Three Major Credit Rating Agencies Affirm Wisconsin’s Ratings
May 10, 2011
For Immediate Release
Madison– The three major credit agencies have all affirmed their credit ratings for the state of Wisconsin. Moody’s affirmed its Aa2 rating, Fitch affirmed its AA rating, and Standard & Poor’s will affirm its AA rating.
“Having our bond rating confirmed is great news for Wisconsin taxpayers that will keep debt payments lower,” said Governor Scott Walker. “It also shows the importance of a fiscally responsible budget, paying off the bills that we inherited and making the hard choices in this budget.”
In Fitch’s release they noted Wisconsin’s broad and diverse economy with considerable economic resources. They also take note of the progress made in the Governor’s proposed budget toward addressing the state’s structural deficit.
Moody’s wrote that the Aa2 general obligation bond rating “reflects the state’s improved liquidity position…as well as the fully funded pension system.” They note that “the state’s ability to make progress toward structural budget balance and improve its liquidity and fund balances will be important to future credit analyses.”