In June, Gov. Gary Herbert and State Treasurer Richard Ellis announced that Utah once again received a "triple-triple" general obligation bond rating. Utah is one of only nine states to earn the AAA bond rating from all three of the rating agencies--Standard & Poor's, Moody's Investors Service and Fitch Ratings.
The triple-triple rating is emblematic of the state's economic stability and growth and speaks to "Utah's deep-rooted commitment to fiscal discipline and budgetary restraint," Herbert stressed as he announced the accomplishment.
Utah has received AAA bond ratings by all three agencies for more than two decades. The rationale for the most recent rating included factors such as:
- Economy growth and diversity
- Conservative debt and fiscal policies keeping debt levels at a moderate rate
- Timely action when addressing budgetary imbalances
- A history of taking action to close budgetary gaps and prioritized building reserves
- Successfully managed capital spending, especially for education and transportation