Nevada has achieved its highest credit rating ever as it looks to keep its economy churning.
According to a news release shared by the Nevada government, State Treasurer Zach Conine said Moody’s Investor Services, S&P Global Ratings and Fitch Ratings have given the state its highest credit ratings ever. The news comes as Nevada prepares for an upcoming $47 million bond sale for capital projects, the release said.
“Nevada is on the move, and [this] news reflects that our hard work and strategic decision-making to invest in our state and our residents is paying off,” Gov. Steve Sisolak, a Democrat, said. “We are laser focused on improving our state’s infrastructure, saving taxpayer dollars and creating good-paying jobs and careers for our residents.”
The “Stable Outlook” for Nevada has now been reaffirmed by all three major rating agencies, which is evidence of the state’s strong financial situation and quick recovery from the COVID-19 pandemic.
“Since 2019 our state has earned its highest credit ratings in history, thanks to strong fiscal management, replenishing our rainy day fund and the high investment returns generated by the Treasurer’s Office,” Conine said. “With these high credit ratings, we will save taxpayers millions of dollars and create thousands of good-paying jobs building capital projects throughout Nevada.”
Moreover, Conine said, Nevada has $1.2 billion in outstanding general obligation bonds that the state will utilize to fund vital infrastructure developments at low interest rates thanks to its credit rating.
