Missouri earns perfect credit rating from multiple agencies
COLUMBIA - Missouri was one of a few states to receive a perfect AAA credit rating from all three independent rating agencies. Standard and Poor's Rating Service, Moody's Investors Service, and Fitch Ratings all gave the state a perfect score, citing strong fiscal management leading to a balanced budget.
These perfect scores allow the state to benefit from lower interest rates, which have the potential to make the state's capital investments more affordable. A news release from Gov. Jay Nixon said this reassures businesses that Missouri is a safe place to invest in.
A key reason the agencies give for awarding a perfect rating is the state's ability to make adjustments in the budget during the year.
"Missouri remains extremely well-positioned to deal with economic downturns, with very strong gap-closing capacity in the form of its control over revenues and spending and a demonstrated willingness to take timely budgetary action,” the Fitch Ratings report said.
Standard and Poor's Rating Services also said, "Missouri’s record of taking mid-year corrective budget measures has helped make its credit quality resilient to episodes of weaker-than-forecast economic and revenue performance.”
Missouri's fiscal management has stayed consistently strong while these agencies have downgraded the credit ratings of other states such as Illinois, Kansas, New Jersey, and Alaska.