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.”
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.”
Sign up for our FREE morning newsletter and face each day more informed.
Before you go . . .
During a crisis like this, it’s more important than ever to dig beyond the news, to figure out what government policies mean for ordinary citizens and how those policies were put together.
For the first time, Civil Beat has become a seven-days-per-week news operation, publishing new stories and a new edition each Saturday and Sunday as well as weekdays.
This is perhaps the biggest, most consequential story our reporters will ever cover. And at no other time in Civil Beat’s history have we relied on your support more. Please consider supporting Civil Beat by making a tax-deductible gift.