By Charles Young, WV News
CHARLESTON, W.Va. — West Virginia has received a clean bill of health from the nation’s three primary bond rating agencies, Gov. Jim Justice said Monday.
The state’s bond credit ratings were assessed by Standard & Poor’s Global Ratings, Moody’s and Fitch Ratings, Justice said.
“We have now been approved by all three agencies … to where our bond ratings stay exactly — exactly — what it has been in the past,” he said. “That’s terrific news because, for all practical purposes, we’re AA stable and that’s so good it’s unbelievable.”
This puts the state in a favorable position ahead of its next offering of bonds from the Roads to Prosperity initiative, Justice said.
“We’re going to the marketplace with our last bond offering,” he said. “That’s our Roads to Prosperity Bonds. The last go-around, we generated a premium on a bond; the bond sold for $746.5 million, but we generated a premium above the bond of $146.5 million.” …