Fitch Affirms State of Iowa’s Excellent Credit Rating

State Treasurer Roby Smith announces Iowa’s AAA credit rating has been affirmed by Fitch Ratings. “This is great news for Iowa. We are in a good financial position according to the experts,” Smith said. “An AAA credit rating indicates the strength of the state’s economy, and Iowa’s economy outlook is stable.”

Fitch Ratings publishes credit ratings that are forward-looking assessments on the state’s ability to meet financial commitments, similar to how an individual’s credit score is rated. “The experts recognize the excellent financial management of the State,” Smith added. According to Fitch’s Ratings, “Iowa’s stable economic and employment trends and solid near-term revenue growth prospects. The rating also reflects the state's historically well-managed budget and fiscal operations and a low debt and net pension liability burden.” Read the full Fitch report at: fitchratings.com/research/us-public-finance/fitch-affirms-iowa-idr-at-aaa-outlook-stable-19-03-2024.

As State Treasurer, Smith is responsible for managing the State’s funds. His duties consist of depositing money, investing it and ensuring the money is available when needed by the State. Along with managing the State’s funds, Smith administers Iowa’s unclaimed property program, 529 plans, ABLE plan and various other consumer programs.

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