Agencies to reaffirm state's top credit rating - WRCBtv.com | Chattanooga News, Weather & Sports

Agencies to reaffirm state's top credit rating

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NASHVILLE, Tenn. (AP) - Tennessee officials say 2 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 AAA (http://bit.ly/rooPYa).

He said Standard & Poor's has said it plans to rate the state as AA-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%.

 

Information from: The Tennessean, http://www.tennessean.com

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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