Des Moines, Iowa – State Treasurer Michael Fitzgerald reports Iowa’s Aaa credit rating has been reaffirmed by Moody’s Investor Services (Moody’s). Moody’s recently introduced a new methodology on how they asses a State’s financial position, which led to the reassessment. “Much like a credit score represents an individual’s financial well-being, a rating from Moody’s reflects the financial health of the state,” said Fitzgerald. “Iowa is able to meet our financial commitments year after year, which is reflected in this rating.”
Moody’s, a leading provider of credit ratings and risk analysis, assigns ratings to states and territories after consideration of their economy, finances and institutional framework. Ratings are forward-looking opinions on an issuer’s relative risks and their subsequent responses.
“Iowa continues to achieve a stable outlook due to our excellent financial management and security,” continued Fitzgerald. “Our state has a strong economy, and confirmation of the Aaa rating can be a continued source of confidence for Iowa citizens.”
As State Treasurer, Fitzgerald acts as the State’s banker, depositing State funds, investing them and ensuring they are available when needed. In addition to managing State funds, he also administers programs such as the Great Iowa Treasure Hunt, IAble and College Savings Iowa. For more information on the Treasurer and his responsibilities, visit IowaTreasurer.gov and connect with him on Twitter, Facebook and Instagram.