TN Credit Rating Affirmed
Tennessee officials say two of the agencies that rate government bonds have reaffirmed the state’s top credit rating.
The Tennessean reports that Jason Mumpower, a senior aide to state Comptroller Justin Wilson, sent an email to lawmakers Monday afternoon stating that Moody’s Investors Service and Fitch Inc. will leave the state’s rating at triple-A
He said Standard & Poor’s has said it plans to rate the state as double-A-plus with a positive outlook.
Wall Street agencies had considered downgrading Tennessee’s debt because of the state’s high dependence on federal spending.
Last month, Republican Gov. Bill Haslam and other finance officials traveled to New York to present plans to deal with federal spending cuts as deep as 30 percent.
