State Treasurer Janet Cowell announced Tuesday the state has kept its AAA general obligation bond rating, with a stable outlook, with all three rating agencies.
Cowell said in a statement that Standard & Poor’s, Moody’s Investors Service and Fitch Ratings have kept North Carolina as one of only 10 states to earn the AAA bond rating from all three rating agencies.
“North Carolina’s ‘AAA’ bond rating exemplifies that our state is committed to the highest standards of debt management,” Cowell said. “This is significant in keeping financing costs low as the state contemplates infrastructure investment. In affirming the rating, all three rating agencies noted North Carolina’s low to moderate debt burden and conservative financial and debt management practices.”
Cowell also announced the expected sale on April 8 of $225 million in general obligation bonds that were authorized by the General Assembly in 2014.
The proceeds will be used to fund previously authorized projects as well as more recently authorized state projects including a Western Crime Lab and renovation of the Albemarle Building in Raleigh.