Did you know that Georgia is one of just a dozen states to maintain a Triple AAA bond rating from all three credit agencies?
It may seem like a wonky fact but truth be told, the state’s standing rating makes it a whole lot easier to do business in Georgia. For instance, last month the Georgia State Financing and Investment Commission (GSFIC) handled the sale of $1.3 billion (net $1.026 billion) in bonds for statewide projects.
Those funds primarily will be used to enhance education, alleviate traffic and improve the state’s water supply.
And why are the credit rating agencies so keen on Georgia? Senate Finance Committee Chair Jack Hill shared these quotes with us:
Fitch-“Since (the recession), Georgia has maintained a conservative approach to fiscal management, limiting spending growth and rebuilding the RSR balance. The state’s long-term liability burden is low.”
Moody’s-“Georgia remains an above-average performer in the South, which is supported by population growth that exceeds the nation’s and will help support the housing and personal service industries. The state has regained the jobs it lost during the recession and its economic recovery continues at a healthy pace.”
Standard & Poor’s-“Over the medium and long-term, we believe that Georgia’s low cost of living, strong transportation network, weather and favorable business costs are likely to continue attracting business investment and jobs to the state.”