Fitch expects state’s bond debt to drop below $4B

State Treasurer Lynn Fitch told lawmakers yesterday that she expects Mississippi’s bond debt to drop back below $4 billion by the end of the current budget year, for the first time since 2011.

She said that’s good because bond rating agencies want to know that the state is keeping its long-term debt under control.

Mississippi had nearly $4.2 billion in bond debt as of Dec. 31, and Fitch said that the figure should be $3.9 billion by June 30, the last day of fiscal 2014.

Mississippi is at 33 percent of its constitutional debt limit.

“We’re positioned very well,” Fitch said.