Michigan Gov. Rick Snyder, Treasurer Andy Dillon, and budget director John Nixon met with analysts from all three major rating agencies earlier this week in a bid to boost the state’s credit.
The trio were expected to tout the recent passage of a balanced budget, the overhaul of the state’s tax structure, the passage of new laws that increase state control on local governments, and a recent uptick in revenues, local reports said.
Since 2000, Michigan has endured what former Gov. Jennifer Granholm dubbed “the decade from hell,” losing its triple-A rating amid high unemployment and falling revenue. The state is now rated Aa2 by Moody’s Investors Service, AA by Standard & Poor’s, and AA-minus by Fitch Ratings.