Hawaii Gov. David Ige on Wednesday welcomed the news that Fitch Ratings upgraded the state’s general obligation bond rating — that is, its credit rating — from AA to AA+.

According to a press release from the administration, the upgrade is based on the state’s “resilient economy and continued strong performance.”

Govenor David Ige beams with smiles saying he is usually a positive person in regards to why he was smiling during press conference.
Gov. David Ige, seen here at the Capitol in May, is pleased with the state’s latest credit rating. Cory Lum/Civil Beat

Hawaii’s current ratings from Moody’s Investors Service (Aa1) and Standard & Poor (AA+) raises Hawaii’s G.O. bond credit ratings to “the highest levels ever achieved in state history.”

The administration said the high ratings will help Hawaii reduce borrowing costs and increase savings for taxpayers.

“My administration has actively promoted budgetary and financial policies to live prudently within our means, address our long-term liabilities and grow financial reserves,” Ige said in the press release.

He added, “I must thank Budget Director Neal Miyahira who has helped to implement our policies and guide us to this point.”

Something to consider...

Civil Beat is a small, independent newsroom that provides free content with no paywall. That means readership growth alone can’t sustain our journalism.

The truth is that less than 2% of our monthly readers are financial supporters. To remain a viable business model for local news, we need a higher percentage of readers-turned-donors.

Will you consider making a tax-deductible gift today?

About the Author