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Treasurer Cowell Announces North Carolina Keeps Top AAA Bond Rating

FOR IMMEDIATE RELEASE
March 31, 2015

Treasurer Cowell Announces North Carolina Keeps Top “AAA” Bond Rating

RALEIGH, N.C. – State Treasurer Janet Cowell announced today the affirmation of North Carolina's “AAA” general obligation bond rating, with a stable outlook, by all three rating agencies – Standard & Poor's, Moody's Investors Service and Fitch Ratings. North Carolina is one of only 10 states to earn the “AAA” bond rating by all three rating agencies.

“North Carolina’s ‘AAA’ bond rating exemplifies that our state is committed to the highest standards of debt management,” said Cowell. “This is significant in keeping financing costs low as the state contemplates infrastructure investment. In affirming the rating, all three rating agencies noted North Carolina’s low to moderate debt burden and conservative financial and debt management practices.”

Additionally, Treasurer Cowell announced the expected sale on April 8 of $225 million in General Obligation Bonds that were authorized by the General Assembly in 2014. The proceeds will be used to fund previously authorized projects as well as more recently authorized State projects including a Western Crime Lab and renovation of the Albemarle Building in Raleigh. 

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The Department of State Treasurer’s State and Local Government Finance Division handles the sale and delivery of all State and local debt and monitors the repayment of State and local government debt. More information can be found at http://www.nctreasurer.com/slg