Thursday, October 4, 2018

Moody's Improves Outlook for Mississippi

Mississippi Treasurer Lynn Fitch issued the following statement. 


Moody’s Investors Service has revised Mississippi’s general obligation debt outlook from negative to stable.  They are the second rating agency to make this upward revision, noting Mississippi’s conservative fiscal management and discipline in addressing economic challenges.


“Now, all three of Mississippi’s credit ratings are strong and positive,” said Treasurer Lynn Fitch, who is a member of both the State Bond Commission and the Public Employees’ Retirement System (PERS) Board of Trustees.  “Taxpayers will benefit from recent efforts to meet economic challenges head-on, such as putting money back into the Rainy Day Fund and strengthening PERS’ funding policy.  Better ratings mean the bond issuances currently in the works for capital and transportation improvements across the State will yield better deals for taxpayers.”

Last month, Standard and Poor’s (S&P Global) revised Mississippi’s general obligation debt outlook from negative to stable, also largely crediting the State’s recent proactive approaches to facing pension debt, infrastructure, and budgeting challenges.  Mississippi’s current ratings for general obligation debt are now:

Standard and Poor’s AA Stable
Moody’s Aa2 Stable
Fitch Ratings AA Stable

In August, Treasurer Fitch led a team, including PERS Executive Director Ray Higgins and Department of Finance and Administration (DFA) Executive Director Laura Jackson, to New York City to meet with analysts at S&P, Fitch Ratings, and Moody’s.  Their presentations highlighted recent positive actions to mitigate some of the concerns the rating agencies have noted in past reports, such as our unfunded pension liability, low educational attainment, and reliance on one-time moneys in budgeting.

10 comments:

Anonymous said...

We passed a lottery. New revenue. Ain’t that complicated.

Anonymous said...

Treasurer Fitch - never miss an opportunity to take credit for anything, regardless if you had anything to do with it.

Has learned well from watching her mentor, Jim Hood.

Anonymous said...

Brad Chism isn't a Pollster. Brad Chism is full of crap.

Chism September 2017:
"Voters are less than optimistic about the future of the state."
Right Direction/Wrong Direction -3%

Chism January 2018:
"Mississippians are split on the direction of the state, and the split falls along partisan lines."
Right Direction/Wrong Direction +6%

Chism April 2018:
"Mississippians remain divided as to whether their state is headed in the right or wrong direction."
Right Direction/Wrong Direction +7%

Chism July 2018:
"Mississippians remain divided as to whether the state is moving in the right or
wrong direction."

Right Direction/Wrong Direction +6%

Chism September 2018:
"Partisan and Racial Divisions Over Direction of State."
Right Direction/Wrong Direction +13%

Look at the numbers. If Mississippi was run primarily by Democrats Brad Chism would be telling you that we were living in high times. But instead he makes the good news about partisanship and race. BECAUSE Democrats have NOTHING ELSE to offer you but garbage.

Anonymous said...

Brad is a hard core D and they all lie. I been watching them on TV and most are also crazy.

Anonymous said...

Cool, JPS can now sell more bond$. Win/win.

Anonymous said...

@10:14 Well maybe Treasurer Fitch should take credit for building a private road with public monies?

Anonymous said...

@827, Disagree. First off, the slant you are trying to shade was not a private road. Second, its Melisa McG at MDOT that should be answering questions on that deal. She was trying to protect the road builders AND herself, from the upcoming revision of the antiquated MDOT structure and drug this red herring across the unbuilt road. Almost made it all the way across Hwy 25 to the other side where there exist a similar frontage road to the one that MDOT was proposing, in coordination with the city.

Realize some folks like to make stories to fit the narrative (easy to see lately, if you've been watching the national Dems in DC) but your efforts don't hold up when true facts are thrown in the mix.

Come back later when you have a better effort.

Anonymous said...

@8:41 Little Man Tate still should have known about that, and acted accordingly....regardless of YOUR spin on it.

Anonymous said...

Lynn - what about you missing a bond payment last year and lying on a statement that the State of Mississippi had never done so? I understand that it took the Governor and Attorney General's call to you to change that the state HAD MISSED A BOND PAYMENT on time! Your office is in one hell of a mess. Another question is - why are you hiring temp staff employees? Is it because you don't don't want to pay into the PERS system? Are you not a member of the board of PERS? I know that the employees of PERS were sure glad to get you off as Chairman! You made their life a living hell!

Anonymous said...

I'd like to buy an A.

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Trollfest '09

Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.

Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).


Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.

Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".

In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.


In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.

Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.

Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!

This is definitely a Beaver production.


Note: Security provided by INS.

Trollfest '07

Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

Note: Security provided by INS
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