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Treasurer Cowell Announces North Carolina Keeps Top AAA Bond Rating

FOR IMMEDIATE RELEASE

April 8, 2014

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

RALEIGH – State Treasurer Janet Cowell announced today the affirmation of the State's “AAA” general obligation bond rating 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.

“One of my top priorities is protecting the State’s ‘AAA’ bond rating. That rating keeps financing costs low and it signals to businesses looking to locate here that we are a state that’s solid,” Cowell said. “I appreciate the strong partnership we have with the Governor’s administration and General Assembly in continuing conservative debt management and in funding our pension obligations, which are key to this top rating.”

The top bond rating clearly shows that North Carolina has followed well-defined financial management policies and demonstrated strong debt management practices. Cowell recently traveled to New York, along with State Budget Director Art Pope and former State Controller David McCoy, to meet with the rating agencies.

“It’s great news that North Carolina has retained its ‘AAA’ credit rating,” said Governor Pat McCrory. “Our attention to efficient spending practices, cash flow, and low debt continue to prove that the state is financially stable. Our prudent and effective financial practices continue to provide a strong signal to companies thinking of relocating to North Carolina or those thinking of expanding. “

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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​​