{"id":2369390,"date":"2024-11-15T10:46:56","date_gmt":"2024-11-15T15:46:56","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/north-carolina-1-of-13-aaa-in-all-major-national-bond-rating-agencies-washington-examiner\/"},"modified":"2024-11-15T10:51:38","modified_gmt":"2024-11-15T15:51:38","slug":"north-carolina-1-of-13-aaa-in-all-major-national-bond-rating-agencies-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/north-carolina-1-of-13-aaa-in-all-major-national-bond-rating-agencies-washington-examiner\/","title":{"rendered":"North Carolina 1 of 13 AAA in all major national bond rating agencies &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnorth-carolina-1-of-13-aaa-in-all-major-national-bond-rating-agencies-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2369390&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>North Carolina has achieved \u200ca significant \u200dfinancial milestone \u2064by maintaining \u2063AAA ratings from all \u200dmajor national bond rating agencies, making it one of only 13\u200c states with this distinction. This accomplishment \u2063reflects\u2063 the state&#8217;s strong\u2062 fiscal management and the positive impact of tax reforms initiated by \u200cRepublican lawmakers over the\u200c past 15 years. The state has transitioned from a budget\u2062 deficit\u200c of approximately $6 billion to a surplus of $5 billion\u2062 within a decade and a half, demonstrating effective financial strategies and economic growth.<\/p>\n<p>S&#038;P Global Ratings recently highlighted the state&#8217;s commitment to balanced budgeting and strong financial\u2064 policies, which are\u200c essential\u200c for managing future\u2064 education spending and maintaining reserve balances. Republican Treasurer Dale Folwell credited taxpayers and the North Carolina General Assembly for their role in achieving these high ratings. The \u2063state\u2019s\u200b financial outlook is bolstered by\u2063 effective revenue \u2062management and a commitment \u2063to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/live-2-pm-et-house-oversight-committee-hearing-on-bidenomics-a-perfect-storm-of-spending-debt-and-inflation\/\" title=\"LIVE NOW: House Oversight Committee Hearing on &#039;Bidenomics: Spending, Debt, and Inflation&#039; at 2 PM ET.\">long-term economic stability<\/a>, ensuring ongoing fiscal strength and resilience.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">North Carolina 1 of 13 AAA in all major national bond rating agencies<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1881995\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>(The Center Square) &ndash; Taxpayers in North Carolina have more buying power through state government on the strength of an AAA long-term rating and an AA+ appropriation-backed rating.<\/p>\n<div class=\"article-paywall\">\n<p>S&amp;P Global Ratings affirmed the placements recently. Republican Treasurer Dale Folwell said, &ldquo;Ultimately, the credit for these ratings goes to the taxpayers of North Carolina and the North Carolina General Assembly for their strong fiscal management.&rdquo;<\/p>\n<p>North Carolina is one of only 13 states with a AAA rating from all three major national bond rating agencies. Moody&rsquo;s Investors Service and Fitch Ratings are the other two of the big three.<\/p>\n<p>S&amp;P, in a release, said tax reforms &ndash; led by the Republican majorities of the Legislature in the last 15 years &ndash; are pivotal to the state&rsquo;s successful outlook.<\/p>\n<p>&ldquo;We expect the state will <a href=\"https:\/\/amzn.to\/3YuVZYV\">handle potential court-mandated additional education spending<\/a> in a structurally balanced way,&rdquo; the S&amp;P said in a release. &ldquo;The outlook also reflects the state&rsquo;s commitment to strong fiscal management of the budget, reserve balances, debt, and retirement liabilities. Furthermore, we anticipate that the underlying strengths and structural features of North Carolina&rsquo;s economy will support growth over the long term.&rdquo;<\/p>\n<p>From the 1998 midterms through the 2008 general election, North Carolinians elected a trifecta of Democrats&rsquo; and their policies &ndash; majorities in the Senate and House of Representatives, and the party in the governor&rsquo;s office. At the 2010 midterms, Republicans won both chambers and started enacting legislation aimed at changing the budget deficit of between $800 million and $1.2 billion.<\/p>\n<p>In less than 15 years, the turnaround was roughly $6 billion to a surplus of $5 billion that has since &ndash; and will be again &ndash; tapped for $900 million to assist in Hurricane Helene recovery.<\/p>\n<p>&ldquo;We believe North Carolina&rsquo;s credit profile benefits from <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/senator-toomey-democrats-dont-need-a-single-republican-vote-to-pass-their-3-5-trillion-bill\/\" title=\"Senator Toomey: Democrats \u2018Don\u2019t Need A Single Republican Vote\u2019 To Pass Their .5 Trillion Bill\">strong economic growth<\/a>, state&rsquo;s ability to manage revenues to support expenditure mandates, well-defined financial management policies, and a commitment to maintaining balanced biennial budgets and preservation of very strong reserves,&rdquo; said S&amp;P Global Ratings credit analyst Joe Pezzimenti.<\/p>\n<p>The letter grades indicate an entity&rsquo;s credit worthiness. AAA is the highest, D is the lowest.<\/p>\n<p>Examples of appropriation-backed obligations are Build NC bonds and any issued by the state&rsquo;s Turnpike Authority.<\/p>\n<p>Authority to manage sale and delivery of all state and local debt, and the monitoring of repayment of state and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/americas-66-trillion-timebomb\/\" title=\"America&#039;s  Trillion Timebomb\">local government debt<\/a>, rests with the Department of State Treasurer&rsquo;s State and Local Government Finance Division. Folwell has served two four-year terms as treasurer and was unsuccessful bidding for governor in the Republican primary; Brad Briner won on Election Day over Democrat Wesley Harris and takes office in January.<\/p>\n<p>The S&amp;P said the general obligation rating reflects its view of:<\/p>\n<p>&ldquo;&bull; Historically strong economic growth trends supported by diverse employment sectors.<\/p>\n<p>&ldquo;&bull; History of prudent fiscal management &ndash; this includes making difficult budget decisions to restore fiscal balance when necessary, as well as managing surpluses when they occur, to retain structural budget balance, and building and replenishing reserves drawn on to mitigate impacts of severe weather events.<\/p>\n<p>&ldquo;&bull;&nbsp;Low-to-moderate debt burden, with above average amortization and state borrowing subject to debt affordability guidelines, which we believe is an important credit factor for a growing state.<\/p>\n<p>&ldquo;&bull;&nbsp;Well-funded pension system and progress in addressing other postemployment benefits liabilities.<\/p>\n<p>&ldquo;&bull; Institutional framework that supports the predictability of the state&rsquo;s budgeting and operations, in our view.&rdquo;<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1881995\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1881995\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>North Carolina holds AAA ratings from all major bond agencies, boosting taxpayer buying power<\/p>\n","protected":false},"author":1,"featured_media":2369391,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/08\/AP24164734285600-1.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[45072,45073,36435,32258,32076],"class_list":["post-2369390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-aaa-rating","tag-bond-rating-agencies","tag-financial-news","tag-north-carolina","tag-washington-examiner"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/08\/AP24164734285600-1.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2369390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2369390"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2369390\/revisions"}],"predecessor-version":[{"id":2369394,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2369390\/revisions\/2369394"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2369391"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2369390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2369390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2369390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}