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:
We passed a lottery. New revenue. Ain’t that complicated.
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.
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.
Brad is a hard core D and they all lie. I been watching them on TV and most are also crazy.
Cool, JPS can now sell more bond$. Win/win.
@10:14 Well maybe Treasurer Fitch should take credit for building a private road with public monies?
@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.
@8:41 Little Man Tate still should have known about that, and acted accordingly....regardless of YOUR spin on it.
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!
I'd like to buy an A.
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