Treasurer Fitch reports State credit on ‘positive trend’

A State of Mississippi bond issue set to close in mid February will raise the state’s bond debt to $4.17 billion, Treasurer Lynn Fitch told legislators last week.

Mississippi ended 2014 with bond debt of $3.9 billion.

Fitch said the State’s credit is on a “positive trend” she attributed to “disciplined spending on the part of the Legislature” and “conservative issuance on the part of the State Bond Commission over the past several years.”

State government, nonetheless, has yet to shake a “negative” credit outlook Fitch Ratings placed on the State’s bonds on Oct. 31 2013, even though the AA rating for the bonds denotes “solid” and “stable” credit.

MBJ
1/22/15