Fitch gives state ‘negative’ bond rating; has problems with PERS
Published: November 6,2013
JACKSON — The Fitch credit rating agency has downgraded Mississippi’s bond rating outlook from stable to negative.
The state’s bond rating remains AA+, only one notch below the highest AAA level, but the agency warns the rating could be lowered unless officials take steps to shore up finances. A lower bond rating would make it more expensive for state government to borrow money.
The agency says the revised outlook reflects Mississippi’s slow recovery from the recession and continued use of one-time money to cover recurring government expenses. It says poverty and low education levels hurt Mississippi.
The agency also said that Mississippi’s unfunded liability for public employees’ pensions is too high.
Fitch is one of the three leading U.S. credit rating agencies, along with Standard & Poor’s and Moody’s Investors Service.
To sign up for Mississippi Business Daily Updates, click here.
One Response to “Fitch gives state ‘negative’ bond rating; has problems with PERS”
Mississippi Economic Council
Mississippi Chambers of Commerce
Mississippi State Legislature
Mississippi Development Authority
Mississippi Economic Development Council
North Mississippi News
Social Security Disability Lawyer
Auto Accidents Lawyer
Top Posts & Pages
- Shale oil: market correction or longterm direction?
- Aluminum company rumored for Columbus: 'clock' is for website, not plant site
- Tanger Outlets involved in Southaven project
- Hyatt-Place is Columbus’ newest hotel option
- New Mississippi state highway map is available for the public
- DAVID DALLAS: Who in the Hell are We?
- J.McLaughlin to open in Highland Village next spring
- MBJ exclusive: Jackson’s new airport CEO fulfills desire to taking on the top job
- Analysts hail BancorpSouth stock buyback as ‘handsome’ reward for shareholders