Treasurer McRae: Mississippi maintains strong credit rating

Politics

One of five final designs for the new Mississippi state flag flutters in the breeze, outside the Old Capitol Museum in Jackson, Miss., Aug. 25, 2020, in Jackson, Miss. In late June, Mississippi legislators voted to retire the last state flag to include the Confederate battle emblem, which is broadly condemned as racist. All five were flown outside the museum for viewing. The Mississippi State Flag Commission narrowed their choices to two flags, of which this is one. They will reconvene in September to make their final choice. (AP Photo/Rogelio V. Solis)

JACKSON, Miss. (WJTV) – On Tuesday, State Treasurer David McRae announced Mississippi has maintained its strong Aa2 credit rating from Moody’s. He said the credit rating helps ensure the state has access to advantageous financing, saving taxpayers money.

“As State Treasurer, I have a responsibility to do more with every taxpayer dollar spent, regardless of the economic environment in which we find ourselves. Throughout the ups and downs of the COVID economy, Mississippi maintained strong budgetary controls and responsibly managed our rainy day fund. Because of that, taxpayers have been rewarded with a strong credit rating that will help us secure more advantageous financing going forward, ultimately helping stretch every dollar a bit further,” McRae said.

In their report, Moody’s attributed the decision to maintain such strong a credit rating to “historically-stable revenue and strong financial controls that led to healthy fund balances.”

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