Governor Perdue Announces Bond Sale, AAA Ratings Confirmed for State Once Again
Friday, May 1, 2009 |
Contact: Office of Communications 404-651-7774
|
“In these challenging economic times, this bond offering gives Georgians the opportunity to invest in their own state while strengthening their portfolio,” said Governor Perdue. “At the same time
The Georgia State Financing and Investment Commission (GSFIC) approved the sale of the bonds at its February 4 meeting following the successful sale of just over $613 million in bonds at historically low interest rates.
Moody's, Fitch and Standard & Poor's have assigned their triple-A bond rating with a stable outlook to the State's General Obligation Bonds. The rating firms' individual ratings are Aaa, AAA and AAA, respectively. The triple-A ratings reflect the highest rating available to government issuers and demonstrate what a great value
Individuals can learn more about the Series 2009C and Series 2009D General Obligation Bonds at www.buygeorgiabonds.com.
The bond sale is a part of the capital outlay program approved in the state’s 2009 budget. The FY 2010 appropriations bill authorizes an additional $1.2 billion in general obligation bonds for K-12 school construction, improvements and expansions at university campuses, and a variety of other projects. In addition to low interest rates, the state is also benefitting from low construction costs and putting Georgians to work building these needed projects.
“
“These top bond ratings affirm that our proactive, conservative fiscal practices and our good management of the state’s debt structure put
###