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The Journal Gazette

Friday, April 01, 2016 9:22 am

S&P affirms Indiana bond rating

The Journal Gazette

In a report released Thursday, Standard and Poor’s affirmed the state of Indiana’s AAA credit rating, Gov. Mike Pence's office said today. 

Indiana has held AAA ratings with Standard and Poor’s, Moody’s and Fitch Ratings since April 2010, Pence's office said in a statement. It said the AAA rating is the highest possible rating of the state’s finances.

“Our record of passing honestly balanced budgets, maintaining sufficient reserves while cutting taxes for working Hoosiers and employers has once again been affirmed as the way to grow a more prosperous Indiana,” Pence said in the statement.

S&P said the rating "reflects our view of the state’s proven commitment to and significant focus on strengthening the budget through extensive use of management controls that have led to maintenance of structural balance, growth in reserve levels, and continued funding of long-term liabilities.”