close
close

Fitch Affirms Idaho’s AAA Credit Rating for Fourth Year in a Row – Dailyfly

Ads

BOISE – Governor Brad Little commented Friday on the announcement by Fitch Ratings, one of the nation’s three major ratings agencies, that it was affirming Idaho’s AAA rating, the highest level a state can receive. Only a handful of states achieve the AAA rating annually.

“Thanks to our diligent and relentless focus on reining in state spending and saving healthy amounts for rainy days, Idaho has maintained Fitch’s AAA rating four years in a row, and I am very proud. This rating means we will save Idaho taxpayers millions of dollars on future projects. That is what good governance 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 private sector partners have also done a great job moving Idaho’s economy forward,” said Governor Little.

Fitch’s announcement noted: “Idaho’s ‘AAA’ IDR reflects the state’s broad spending and revenue powers, strong reserves, low long-term liability burdens and projected solid long-term economic growth. Fitch believes the state is well positioned to absorb multiple rounds of recent tax cuts and specific spending allocations from the general fund, given Idaho’s prudently managed budget with significant one-time spending being implemented to create fiscal capacity.

The report also notes that Idaho’s long-term liability burden is expected to remain low, even with massive investments in the transportation bond program and a new school facilities program championed earlier this year through House Bill 521. The report points to Idaho’s strengths in promoting a diversifying, growing economy and implementing sound financial management and conservative budgeting.