ATLANTA — The “Big Three†bond rating companies again have given Georgia the highest rating of AAA, praising the state's commitment to fiscal responsibility and record of economic growth and job creation.
“The 'AAA' long-term rating reflects our view of Georgia's demonstrated resilient budgetary performance across credit cycles, coupled with responsible fiscal management that has enabled the state to make timely adjustments to general fund expenditures,†wrote S&P Global Ratings, which gave Georgia its highest credit score along with Moody's and Fitch Ratings.
“The rating also incorporates our view of the state's favorable population growth trends, and ability to attract diversified business developments and expansion within Georgia's already large and diverse economic base, and our expectation that the state's annual growth rates will match or be slightly above that of the nation.â€
Sitting on a bulging budget surplus, Gov. Brian Kemp and Georgia lawmakers for the second year in a row were able to fund building projects with cash rather than general obligation bonds.
“Georgia continues to be a safe and stable bet for job creators,†Kemp said Tuesday, July 15. “That's why we continue to see record investment and economic development, and it's one of the many reasons we are well-positioned to save Georgia taxpayers millions of dollars with low-interest borrowing rates in the years to come.â€
However, storm clouds are looming on the horizon in the form of the federal budget bill the Republican majorities in Congress passed recently, which slashes spending by about $1.5 trillion to help offset the revenue hit of a $4 trillion tax cut.
With states potentially facing huge losses in federal assistance, Kemp ordered state agencies to maintain current levels of spending in both their fiscal 2026 mid-year and fiscal 2027 budget requests.
This story is available through a news partnership with Capitol Beat News Service, a project of the Georgia Press Educational Foundation.
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