Wednesday, July 15, 2020
Hawai'i Free Press

Current Articles | Archives

Tuesday, May 17, 2011
Moody’s Cuts Hawaii’s Bond Rating
By Selected News Articles @ 11:35 AM :: 4432 Views :: Energy, Environment

Moody's Cuts Hawaii's Bond Rating A Notch On Finances, Economy


Moody's Investors Service on Tuesday downgraded its bond rating on Hawaii, saying the state's sustained recession and one-time budget fixes are straining the government's finances.

Moody's rates Hawaii's general obligation bonds at Aa2, the third-highest credit rating. Its outlook is stable.

State revenue has been threatened for years by the overall economy, which suffered acutely during the recession after tourism slumped. Despite recent signs of improvement in that vital industry, the state warned in a special March forecast that natural disasters in Japan, higher oil prices and the state's decision to delay paying fiscal 2010 tax refunds until fiscal 2011 would further pressure the economy.

Moody's justified the downgrade based on the state's forecast depletion of reserve funds by the end of the 2011 fiscal year, sustained budget shortfalls relieved by one-time solutions and low pension-funded ratios relative to other states. Hawaii's audited financial results have also come in late since fiscal 2007, a trend the ratings agency said contrasts with the state's other good-governance policies.


Democrat One-Party Rule Responsible for Moody's Downgrade: Abercrombie's 'New Day' results in a very bad day for Hawaii

The Hawaii Republican Party reacted to today's decision by the leading credit agency Moody's to downgrade the State of Hawaii's general obligation bonds.

"Today's decision by Moody's is the result of one-party rule and continued reckless fiscal behavior by Hawaii's Democrats. The Abercrombie administration has shown a near total lack of leadership in guiding our state and the Democrat controlled legislature is equally complicit in the financial mismanagement of our government. Although many of the economic challenges outlined in this report began during the previous administration, Governor Lingle's responsible fiscal management preserved Hawaii's Aa1 bond rating," said Jonah Kaauwai, Hawaii GOP Chair. "Hawaii deserves better. Today's downgrade of our state's bonds by Moody's is yet another clear indication as to why we must change our political leadership in the 2012 elections."

The decision by Moody's will likely result in higher interest rates and borrowing costs for Hawaii. This will further exacerbate the fiscal problems Hawaii is already in.


The Bond Buyer: Hawaii Cut to Aa2 by Moody’s

LINK: Moody’s



TEXT "follow HawaiiFreePress" to 40404

Register to Vote


808 Silent Majority

808 State Update AM940


ACA Signups Hawaii



Alliance Defending Freedom

Aloha Life Advocates

Aloha Pregnancy Care Center

American Council of Trustees and Alumni

American Mothers of Hawaii



Antonio Gramsci Reading List

A Place for Women in Waipio

Astronomy Hawaii

Audit The Rail

Ballotpedia Hawaii

Better Hawaii 

Blaisdell Memorial Project

Broken Trust 

Build More Hawaiian Homes Working Group

CAFR Hawaii

Castaway Conservative

Children's Alliance Hawaii

Children's Rights Institute

Christian Homeschoolers of Hawaii

Citizens for Recall

Cliff Slater's Second Opinion

Coffee Break

CSIS Pacific Forum

DAR Hawaii

DVids Hawaii

E Hana Kakou Kelii Akina

E Māua Ola i Moku o Keawe

Farmers For Choice Hawaii


Fix Oahu!

Follow the Money Hawaii

Frank in Hawaii

Front Page Magazine

Frontline: The Fixers

Genetic Literacy Project

Get Off Your Butts!

God, Freedom, America

Grassroot Institute

Hawaii Aganst Assisted Suicide

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii Coalition Against Legalized Gambling

Hawaii ConCon Info

Hawaii Credit Union Watch

Hawaii Crime Victims' Rights

Hawaii Crop Improvement Association

Hawaii Debt Clock

Hawaii Defending Marriage

Hawaii Defense Foundation

Hawaii Family Advocates

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii Firearm Community

Hawaii Fishermen's Alliance

Hawaii Future Project

Hawaii Gathering of Eagles

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii March for Life

Hawaii Meth Project

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Right to Life -- Big Island

Hawaii Right to Life -- Oahu

Hawaii Shield Law Coalition

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together

Heritage Foundation

HI Coalition Against Legalized Gambling



Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Homeless Crisis

Honolulu Navy League

Honolulu Traffic

Horns of Jericho Blog

House Minority Blog

House Republican Caucus YouTube


Hump Day Report

I Vote Hawaii

If Hawaii News

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

Iowa Meets Maui

Jackson v Abercrombie

Jihad Watch

July 4 in Hawaii

Kahle v New Hope

Kakaako Cares

Kau TEA Party

Kauai Co GOP

Keep Hawaii's Heroes


Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Malulani Foundation

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

Mauna Kea Recreational Users Group

Middle East Forum--The Legal Project

Mililani Conservatives for Change

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

Muslim Brotherhood in America

NAMI Hawaii


National Christian Foundation Hawaii

National Parents Org Hawaii

National Wind Watch

New Hawaiian

New Zeal

NFIB Hawaii News

No GMO Means No Aloha

Northwest Economic Policy Seminar

Not Dead Yet, Hawaii

Now What I Really Think

NRA-ILA Hawaii

Oahu Alternative Transport

ObamaCare Abortion Hawaii


OHA Lies

Opt Out Today

Pacific Aviation Museum

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Pritchett Cartoons 

Pro-GMO Hawaii


Rental by Owner Awareness Assn

Republican Party -- Hawaii State

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

Save Dillingham Airfield

School Choice in Hawaii

SIFE Remington

SIFE W. Oahu 

Sink the Jones Act

Smart About Marijuana--Hawaii

St Marianne Cope

State Budget Solutions Hawaii

State Policy Network

Statehood for Guam

Tax Foundation of Hawaii

The Harriet Tubman Agenda

The Long War Journal

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

Truth About Trade & Technology - Hawaii

UCC Truths

Union Members Know Your Rights

US Tax Foundation Hawaii Info

Valor in the Pacific

VAREP Honolulu

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii