(The Center Square) – For the second time in six days, North Carolina is again among the best when it comes to bond ratings.
S&P Global, one of the big three in credit ratings along with the Fitch Group and Moody’s, on Monday affirmed the state’s AAA rating on general obligation bonds. Two upcoming transportation bonds also scored well – the BuildNC Bonds for $300 million is AA+ and the Grant Anticipation Revenue Vehicle Bonds for $475 million is AA.
“The outlook also reflects the state’s commitment to strong fiscal management of the budget, reserve balances, and debt and retirement liabilities,” S&P said in its report. “Furthermore, we anticipate that the underlying strengths and structural features of North Carolina’s economy will support growth over the long term.”
North Carolina had a population just over 8 million in the U.S. Census in 2000. It crossed 10.4 million in 2020 and the latest estimate puts it at over 11 million.
First-term Republican state Treasurer Brad Briner’s office said as of 2024, only 14 states have AAA bond ratings.
Moody’s on Wednesday of last week reaffirmed the state’s AAA general obligation bonds rating.
