ATLANTA — Georgia’s AAA bond rating held strong for the second year in a row.
The Georgia Governor’s Office announced the update on Tuesday, saying ratings agencies FitchRatings, Moody’s Investor Service and S&P Global rankings had all maintained the AAA bond score for the state.
According to Kemp’s office, the news followed a Moody announced that Georgia still held the same “coveted level of financial trustworthiness” last week.
"Georgia’s AAA issuer rating reflects the state’s large and diverse economy, strong population and employment growth, robust reserves and liquidity, strong fiscal governance and flexibility and low direct leverage from debt, pension and OPEB liabilities," Moody’s Investor Service said.
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“I am proud to report that thanks to our state’s resilient economy and commitment to conservative budgeting, Georgia has once again secured the highest bond rating possible from all three main credit rating agencies,” Kemp said in a statement. “Georgia continues to be a safe and stable bet for job creators.”
Kemp continued, saying that Georgia’s safe business environment was why the state continued to get record investment and economic development, and positioned the state well for years to come.
Kemp’s office said this was the second year the state hadn’t issued general obligation bonds, instead funding capital projects in cash, “generating a net estimated savings of about $2.81 billion” over 20 years.
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