Thursday, July 18, 2024
Hawai'i Free Press

Current Articles | Archives

Wednesday, December 11, 2019
Hawaii Credit Rating Upgraded to Highest Level Ever
By News Release @ 9:28 PM :: 3994 Views :: Economy, Hawaii State Government, Taxes


News Release from Office of the Governor, Dec 11, 2019

HONOLULU – Gov. David Ige announced that Fitch Ratings upgraded the state’s general obligation (G.O.) bond rating (credit rating), from AA to AA+ — based on the state’s resilient economy and continued strong performance. The upgrade, along with current ratings from Moody’s Investors Service (Aa1) and Standard & Poor (AA+) raises Hawai‘i’s G.O. bond credit ratings to the highest levels ever achieved in state history.

The high ratings will help the state reduce its borrowing costs and increase savings for Hawai‘i taxpayers in future bond sales.

Fitch is a private independent credit rating service that evaluates a bond issuer’s financial strength of its ability to pay back money owed. It cited Hawai‘i’s strong financial and operating performance, diversified economic base, and the state’s overall fiscal prudence – including its commitment to reducing its pension and retiree healthcare liabilities. Fitch also acknowledged that the state has made strides in growing its budgetary and emergency reserves, which is a key step in improving overall financial stability.

“This is significant because we could potentially save millions in taxpayer dollars on interest payments. The state is also better positioned for the next recession, reducing the need to raise taxes or cut services,” said Gov. David Ige. “My administration has actively promoted budgetary and financial policies to live prudently within our means, address our long-term liabilities and grow financial reserves. I must thank Budget Director Neal Miyahira who has helped to implement our policies and guide us to this point.”

“The bond rating upgrade reflects years of prudent financial management led by Governor Ige to improve the state’s overall financial position and address its long-term liabilities. It is important that we continue to implement similar financial initiatives to protect the financial health of the state,” said Neal Miyahira, director of the Department of Budget and Finance.”

With the latest rating upgrade from Fitch, all three of the state’s G.O. bond ratings are one notch away from the highest rating possible.

Link: Fitch Ratings Report 

PBN: Hawaii's credit rating reaches highest levels in state history


TEXT "follow HawaiiFreePress" to 40404

Register to Vote


Aloha Pregnancy Care Center


Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii


Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii Military History

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Together


Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

July 4 in Hawaii

Land and Power in Hawaii

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

National Parents Org Hawaii

NFIB Hawaii News

NRA-ILA Hawaii


OHA Lies

Opt Out Today

Patients Rights Council Hawaii

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

Rental by Owner Awareness Assn

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

School Choice in Hawaii

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii