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State Pursuing Credit Rating Upgrades From Other Agencies

Associated Press0

PIERRE, S.D. (AP) — A national credit rating agency anticipates its decision to upgrade South Dakota to its highest rating won’t change over the next two years, and state officials are pursuing a similar bump from other firms.

Bureau of Finance and Management Commissioner Jason Dilges says the upgrade in South Dakota’s issuer credit rating of “AA+” to “AAA” this week from Standard and Poor’s will likely save the state money in the future from lower interest costs.

He says the state is pursuing upgraded ratings from Moody’s Investors Service and Fitch Ratings. Dilges says the bump is similar to a credit score improvement for a South Dakota resident.

Sussan Corson, a Standard and Poor’s credit analyst, says she also doesn’t anticipate a change in North Dakota’s “AAA” outlook over the next two years.

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