(Idaho Governor’s Office Press Release, February 3, 2022)
Boise, Idaho – Governor Brad Little commented on the announcement today from Moody’s Investor Service, the premier ratings agency, that it upgraded Idaho from the AA1 issuer rating to the AAA issuer rating.
Last fall, Fitch Ratings also upgraded Idaho’s credit rating to AAA, the highest level. Only a handful of states achieve the AAA credit rating annually.
“Thanks to our diligent and unrelenting focus on reining in state spending and saving healthy amounts for rainy days, Idaho has received the coveted AAA rating from Moody’s for the first time, and I am very proud. Last fall, Fitch Ratings upgraded Idaho to the AAA rating as well.
“When I took office as Idaho’s 33rd Governor three years ago, one of my biggest priorities and one of our most important fiscal accomplishments would be to achieve the AAA rating, a step that would save Idaho taxpayers millions of dollars on future projects.
“This achievement may not grab headlines the way politically charged issues can, but let me tell you – this will have an impact on your wallets. This is what good government is all about. I appreciate my partners in the Legislature for sharing my passion for maintaining a lean state budget and stable rainy-day funds. Our partners in the private sector, too, have done a tremendous job propelling Idaho’s economy forward,” Governor Little said.
The Moody’s announcement noted, “The upgrade to AAA reflects the state’s continued positive economic and demographic outlook and positive governance changes to increase reserves that offer increased protection against the state’s volatile economic and revenue structure.”
The report also noted Idaho’s strengths in fostering a diversifying, growing economy and implementing sound financial management and conservative budgeting.