September 17, 2012

Cover Story

CEO of the Year

Utah’s business landscape is rich with professionals who have le...Read More

Featured Articles

Did you go Skiing this winter?

Around Utah

Sections

Spotlight
Martin Plaehn

Spotlight
Karen Sendelback

Legal Briefs
Social Media and Employers: Friends or Enemies?

Money Talk
The Case for HSAs

Economic Insight
Time to Show Up

Lessons Learned
Make a Move

TechKnowledge
In the Lab

EntrepreneurEdge
Rent to Own

Business Trends
Back from the Dead

Executive Living
Artful Inspiration

Features
A Breath of Fresh Air

Features
Worst-Case Scenario

Regional Report
Northern Utah

Focus
Measure Up

Industry Outlook
Travel & Tourism

Players
Players

Article

Utah Retains AAA Bond Rating

Press Release

September 17, 2012

Utah Gov. Gary R. Herbert and Treasurer Richard K. Ellis announced the affirmation of the State’s “AAA” general obligation bond rating by all three bonding agencies – Standard & Poor’s, Moody’s Investors Service and Fitch Ratings. Utah is one of only seven states to earn a AAA bond rating by all three of the rating agencies, also known as a “triple-triple” rating.

“This is no surprise. Utah has a legacy of sterling ratings because of prudent fiscal management and conservative budgeting,” said Herbert. “This is one more example of Utah demonstrating leadership to the nation, especially on the importance of maintaining a balanced budget.”

Treasurer Ellis said, “The tone of the rating agency meetings confirmed that Utah is seen as a leader among the states in fiscal discipline and management.”

Utah’s continuous history of AAA bond ratings dates back to 1965 when Standard & Poor’s initiated its rating system. The State’s AAA rating with Moody’s dates back to 1973, and the Fitch Ratings date back to 1992.

The rationale for Utah’s ratings includes:

  • Strong governmental framework, with a constitutional requirement to maintain a balanced budget and a fiscal policy that allows for changes to the revenue structure and program spending by a simple majority of the legislature
  • A young, well-educated work force, diverse economy, and an unemployment rate that, although at historic highs, remains lower than the national average
  • Continued good financial management, including proactive budget adjustments to maintain adequate “rainy day” reserves
  • Moderate debt burden and rapid amortization of existing debt
Utah Business Social
UB Events View All
30 Women to Watch 2014!Utah Business Event
May 22, 2014
Thirty of Utah’s most dynamic women will be recognized at the 15th Annual 30 Women to Watch Awar...
Community Events View All
Building Successful Email Newsletters and Campaigns
Apr 16, 2014
Learn to design and code an HTML email newsletter, including setting for the final dimensions and...
Contsitutional Symposium on Religious Freedom
Apr 16, 2014
Elder Dallin H. Oaks will give the Keynote Address as part of the Constitutional Symposium on Rel...

info@utahbusiness.com  |  90 South 400 West, Ste 650 Salt Lake City, Utah 84101   |  (801) 568-0114

Advertise with Utah Business

Submit an Event

* indicates required information
* Event Name:
Price (general):
Website (if applicable):
Coordinator's Name:
Coordinator's Email:
Coordinator's Phone:
Venue Name:
Venue Address:
Venue City:
Venue Zip:
Event Capacity:
Date(s):
to
* Event Description:
  Cancel