OLYMPIA – Budget leaders in the Washington State Senate responded to news that the state has maintained its historically high ratings from the nation’s top credit agencies.
Reports from Moody’s (Aaa), S&P (AA+) and Fitch (AA+) cited the state’s strong governance practices, sound reserves, a broad and growing economy, and a commitment to fiscal balance.
The agencies also highlighted Washington’s fiscal management and forecasting system among the reasons for the strong credit ratings in their latest assessments. The high credit ratings allow Washington to obtain low-interest rates and issue bonds to refinance existing obligations for public projects.
Senate leaders issued the statements below in response to the positive fiscal news:
Sen. Christine Rolfes (D-Bainbridge Island), Ways & Means Chair:
“We’ve worked hard to craft responsible and ambitious state budgets that will improve lives while making our economy stronger and more resilient. Our commitment to sound fiscal stewardship and responsible budgeting practices is one of the big reasons Washington remains one of the best places in the world to live, work, and raise a family.”
Senate Majority Leader Andy Billig (D-Spokane):
“In recent years, our state budgets have made historic investments in affordable housing, health care, public schools, environmental health, and other areas critical to strong communities. By investing in Washington families and small businesses, and maintaining healthy reserves, our economy now consistently ranks as one of the strongest in the nation. Today’s news is another reminder that smart, targeted public investments can improve lives and strengthen the state’s economic landscape.”