Iowa Remains at the Top of Credit Rating Scales
DES MOINES, IA (02/19/2020) (readMedia)-- State Treasurer Michael Fitzgerald reports the state of Iowa has once again affirmed its Triple A credit rating from rating agencies Standard & Poor's, Fitch Group and Moody's – exemplifying the state's strong capacity to meet its financial commitments. "Triple A is the highest rating a state can achieve and I am proud to see this continue for Iowa," Fitzgerald said. "We are one of only twelve states that currently have Triple A ratings from the three credit rating agencies. Our careful financial management and diverse economy sets our state up for this type of success."
Fitch Group and Moody's are two of the top credit rating agencies that assess the credit worthiness of both the state and the bonds they issue. The current ratings indicate the strength of Iowa's economy. According to Moody's report, "Iowa's Aaa rating reflects its strong reserves, fiscal management and its low debt and pension liabilities."
"Iowa continues to demonstrate how strong our economy is," Fitzgerald stated. "Our success in handling our financial obligations puts us in the top tier of states. Iowa citizens can be confident in the state's financial management."
The treasurer is responsible for acting as the state's banker and administering the Great Iowa Treasure Hunt, the College Savings Iowa 529 plan and IAble. To keep up with all of the office programs, follow the treasurer on Facebook and Twitter or visit his website at IowaTreasurer.gov.