Monday, July 21, 2008
Indiana Wins Highest Credit Rating
Standard & Poor's Rating Service has upgraded Indiana's credit rating to AAA, the first time in the state's history that it has achieved this status. Gov. Mitch Daniels jumps on the announcement. "The upgrade reflects the state's continued strong management that has led to the property tax reform that has realigned state and local spending and is not expected to impact the state's long-term financial performance," Daniels said. A press release from the governor's office notes that schools will be able to borrow money at a lower interest rate as a result of the upgrade. Only nine other states enjoy a AAA rating from S&P, including Florida, Georgia, North Carolina, Delaware, Virginia, Maryland, Minnesota, Missouri and Utah.