South Dakota Maintains Highest Credit Rating

Pat Powers

South Dakota Maintains Highest Credit Rating

PIERRE, S.D. – This week, both Standard & Poor’s Global (S&P) and Moody’s Investors Service announced they have reaffirmed South Dakota’s AAA Issuer Credit Rating with a stable outlook.

“AAA is the highest possible rating assigned by credit rating agencies,” said Gov. Noem. “Sound fiscal management is a priority for my administration. As a result of our fiscal discipline, maintaining reserve funds at 10 percent, and a structurally balanced budget, South Dakota continues to benefit from the highest rating possible. The financial impact of the AAA credit rating will continue to position the next generation for success.”

Both S&P and Moody’s note the strong financial condition of South Dakota, strong level of reserve funds, well-funded pension system, and a focus on a structurally balanced budget as key reasons for reaffirming the state’s AAA rating.

“We consider the state’s management practices strong under S&P Global Ratings’ financial management assessment (FMA), indicating that, in our view, practices are strong, well embedded, and likely sustainable,” said S&P.

Moody’s Investors Service stated, “The stable outlook reflects the expectation that low leverage and fixed costs combined with a very healthy financial position will support South Dakota’s strong credit quality going forward.”

Credit ratings give potential bond purchasers a measurement of state performance and credit worthiness. High credit ratings allow issued bonds to carry a lower interest rate, providing interest savings to issuers as well as the taxpayers in the State of South Dakota.

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16 thoughts on “South Dakota Maintains Highest Credit Rating”

  1. Interesting she makes it sound like she is responsible for the rating. Daugaard was solely responsible for making the AAA rating possible.

    2. Actually, if you read her statement, she says our state “continues” to benefit. This implies previous administrations as well and only that she is continuing the policies. Some people will read anything in a negative light.

      1. Sorry, duggersd, I didn’t see your comment before I posted mine. You hit the nail on the head!

        1. ¡Mierda ocurre!
          The same thing happens to me all of the time. Sometimes I type before I read!

    3. She said, “. . .South Dakota CONTINUES to benefit from the highest rating possible.” I don’t see anywhere in this post where she is claiming that she obtained the rating that continues. Also, I would guess that the legislature has a little to do with it along with Daugaard and now Noem.

  2. That’s great! Too bad you get an F in about every other category as another backward republican-dominated state.. It’s pretty easy to do as a welfare state. South Dakota. Welfare state.

    2. Do you live here? If so, please move, we don’t really need your ilk around here trying to push socialist policies. If you don’t why do we care what you think about anything?

    3. Falseinator, you lie as much as Cory Heidelberger.

      His latest lie is saying that gun free zones protect schools.

  4. Kudos to Governor Noem for doing what S.D. Republican Governors are known for doing!

      1. We get it,pal. You are upset because you are on the losing side. Are you going to be like national Democrats and NEVER get over the election?

        Move on and try again. Or not.

        1. Funny, we Republicans have the elephant as our mascot, but the Dumbocrats can never forget that they lost. What a bunch of whiners.

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