Each of the three main credit rating agencies has given Georgia a rating of AAA with a stable outlook, which will yield savings when the state sells bonds next week.
The state will accept bids June 22 on general obligation bonds to fund $754 million in capital projects, primarily for K-12 and higher education, public safety and economic development.
“Securing the highest possible state bond ratings for yet another year is the result of decades of conservative state leadership and our balanced approach to protect both lives and livelihoods throughout the COVID-19 pandemic,” Georgia Governor Brian Kemp said Monday.
The ratings agencies cited the strength of Georgia’s economy as factors contributing to the AAA ratings. Specifically, they pointed to low unemployment, full funding of the state’s “rainy-day” reserves, a balanced approach to primary revenue sources, and consistent funding of obligations.
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