Minnesota Receives Top Credit Rating
A prominent national credit analyst agency has restored Minnesota’s credit rating to the highest rating of AAA.
Governor Mark Dayton’s office announced the upgrade to the rating on Thursday. Fitch Ratings had previously downgraded Minnesota’s rating in 2011 to reflect financial instability in the state.
According to the release, Fitch had based their upgrade on “Minnesota’s solid and broad-based economy, a revenue structure well designed to capture economic growth, a low liability burden, strong control over revenues and spending” and “a sophisticated approach to reserve funding.”