Moody’s raises Louisiana’s bond credit rating after six years

Greater Baton Rouge Business Report | By: The Associated Press

The new rating by Moody’s Investors Service will save the state about $750,000 a year in interest for every $300 million in bonds issued, state Treasurer John Schroder says.

Louisiana has made significant progress “restoring its financial reserves and liquidity in recent years by structurally aligning revenue and spending,” Moody’s says in a news release. 

The rating, at Aa3 since early 2016, was raised Wednesday to Aa2.

“When I came into office, we were facing a huge fiscal cliff and unstable finances,” Gov. John Bel Edwards says. “By working together with the Legislature, we’ve been able to turn things around. We now have surpluses instead of deficits, we’re investing again in education and infrastructure and we are no longer relying on one-time money for recurring expenditures.” Continue Reading Here >>>

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