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PRESS RELEASE
October 2, 2023
CONTACT :
Noelle Veldhouse
Deputy Treasurer- Outreach
208-332-2996
[email protected]
Idaho's AAA Fitch Rating
Idaho State Treasurer Ellsworth and Governor Little's office
announce the expansion of Idaho's AAA credit rating
BOISE- We are pleased to announce that Idaho has acquired the prestigious AAA (Issuer Default Rating -IDR) credit rating from Fitch Ratings. Fitch is now joining Moody’s and S&P Global Ratings in giving Idaho a AAA rating. This accomplishment shows Idaho’s ability to stay fiscally strong and maintain financial stability even in challenging economic times.
According to Fitch, "the IDR/AAA rating reflects the state's credit strengths, including broad powers over spending and revenues, strong reserve levels, low long-term liability burden, and expected solid long-term economic growth."
Idaho's resilient economy has benefited from sound financial planning, fiscal management, and responsible budgeting. Moreover, Fitch believes the state is "well positioned to absorb the consecutive rounds of tax cuts adopted to date, given Idaho's prudently managed budget with significant one-time spending that rolls off to create fiscal capacity."
See the full ratings report HERE.
Sincerely,
Julie A. Ellsworth
Idaho State Treasurer
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