BATON ROUGE, La. (BRPROUD) — Louisiana State Treasurer John M. Schroder and Governor John Bel Edwards responded to the state’s upgraded issuer rating by Moody’s Investor Service.
“This is a long-overdue upgrade for our state,” said Schroder. “My five years serving as State Treasurer have seen five years of strong financial performance and significantly increased reserves. The upgrade will save us money in the future and is a reward to investors who believed in us all along. I cannot overstate how much confidence this brings to the state’s investors.”
“Moody’s most recent upgrade is yet another step in the right direction for Louisiana’s financial outlook,” said Gov. Edwards. “When I came into office, we were facing a huge fiscal cliff and unstable finances. By working together with the Legislature, we’ve been able to turn things around. We now have surpluses instead of deficits, we’re investing again in education and infrastructure and we are no longer relying on one-time money for recurring expenditures. Between the pandemic and natural disasters, nothing we have done over the past several years has been easy, but our commitment to strong financial management is paying dividends for Louisiana.”
For more information about the state’s new issuer rating, click here.