Three major credit rating agencies awarded Delaware with a ‘AAA’ rating. The reports by Moody’s Investor Services, Fitch Ratings and Standard & Poor’s cited the state’s fiscal management. They also acknowledged lawmakers recent efforts to successfully balance the budget and make difficult cost cutting decisions.
“Delawareans expect us to responsibly manage taxpayer dollars, and these ratings reaffirm that we are committed to doing just that,” said Gov. John Carney. “We remain focused on building a sustainable financial plan, operating efficiently, and making important investments in education, our economy, and other services that make Delaware an even better place to live, work, and raise a family.”
The agencies also highlighted Delaware’s strong government framework and how it provides frequent updates on revenue forecasts.
“Positive credit ratings ultimately translate into long-term savings for Delawareans,” said Rick Geisenberger, Secretary of the Delaware Department of Finance. “In this case, our ability to move quickly to adapt to rapidly changing market conditions will also create near-term savings that will free up funds to invest in growing our economy and improving the lives of Delaware citizens.”