|
|
Article: Washington state treasurer announces improvement in state's bond rating. (Dan Grimm)
- Article from:
- PR Newswire
- Article date:
- January 9, 1990
CopyrightCOPYRIGHT 1990 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
WASHINGTON STATE TREASURER ANNOUNCES IMPROVEMENT IN STATE'S BOND RATING
OLYMPIA, Wash., Jan. 9 /PRNewswire/ -- State Treasurer Dan Grimm announced Monday that Washington State's bond rating has been improved by Moody's rating agency from A1 to Aa, the best it has been in the state's history. Grimm said the upgrading will result in saving the state more than $100 million over the next 20 years in interest charges on state bonds.
"This upgrading rewards years of work to restore the state's credit rating to its status prior to 1981, when our bond rating was downgraded twice, due to a poor economy and fiscal mismanagement of the state," Grimm said. ...