Standard & Poor’s last week affirmed Missouri’s top credit marks.
“The triple-A rating reflects our assessment of the state’s strong and diverse economic base,” said Standard & Poor’s analyst Corey Friedman.
The agency attributes the top rating to its good financial management supported by laws that require midyear budget cuts if needed to preserve balanced operations, strong reserves in the form of a budget reserve fund that can only be accessed under certain circumstances, and a moderate debt burden. The state’s certificates of participation and leasehold revenue bonds are rated AA-plus.
“The stable outlook reflects our expectation that Missouri will continue to maintain its high level of reserves and that its financial management will remain good, as evidenced by its early and decisive budgetary cuts to offset a staggering economic recovery,” Standard & Poor’s analysts wrote.