Culver: State's AAA Bond Rating reaffirmed - KWWL - Eastern Iowa Breaking News, Weather, Closings

Culver: State's AAA Bond Rating reaffirmed

DES MOINES (KWWL) -  Iowa Governor Chet Culver, Lt. Governor Patty Judge and State Treasurer Mike Fitzgerald announced Thursday that Standard and Poor's (S&P), the world's foremost provider of independent credit analysis, has re-affirmed Iowa's AAA issuer credit rating ("ICR"), their highest possible rating. Iowa is one of only 11 states to have a AAA rating from S&P.

In addition, S&P gave high marks for the upcoming sale of I-JOBS bonds. S&P rated the I-JOBS bonds as AA, a ‘high grade' scores. By comparison, an earlier state infrastructure program - Vision Iowa - initially received a rating of A+, also a ‘high grade' score, from S&P.

"This is good news for Iowa and good news for I-JOBS," said Governor Culver.  "These ratings underscore the fact that, while we are facing tough economic times as a result of this recession, Iowa remains fiscally strong and well-managed. At the same time, we are going to be able put I-JOBS funds to work quickly to rebuild our communities and create jobs."

"Iowa is in a good financial position, according to the experts, and S&P's rating is confirmation of Iowa's stable financial outlook," added Treasurer Fitzgerald.

Online Reporter: KWWL News

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