During now-Governor Doug Ducey’s tenure as Treasurer, Arizona’s bond rating took a hit. On Tuesday, citing Arizona’s passage of a structurally balanced budget, Moody’s Investors Services upgraded Arizona’s credit rating to Aa2, with a “stable” outlook.
In their announcement, Moody’s said the rating increase “reflects the state’s positive economic trends, significantly improved liquidity levels (and) budget actions expected to eliminate a structural imbalance.”
According to Bondbuyer.com, “Arizona gets a ratings lift from Moody’s Investors Service to Aa2 from Aa3 as analysts cite efforts to stabilize the state budget.” The upgrade is a win for Arizona taxpayers and proof that the tough decisions made by the Legislature are moving Arizona’s economy in a positive direction, according to Ducey.