Arizona’s credit rating was recently raised after an evaluation from Moody’s Investor Service. The evaluation raised the government’s financial grade from Aa3 to Aa2, the third-highest evaluation available. This bump in credit reflects positive economic trends throughout the state, significant improvement in liquidity levels for the state government, and budget actions that are expected to ease financial pressures.
The credit upgrade is a “positive sign that the state’s budget and economy are on the mend,” said state Treasurer Jeff DeWit in a statement. “This will lower borrowing costs in the future and signals to the private sector that state government is on the right track and Arizona is a great place to invest.”