Tuesday, August 10, 2010

Tennessee officials meet on bond rating

Gov. Phil Bredesen has been meeting with three credit rating agencies this week in New York.
He and members of the State Funding Board had meetings scheduled with Fitch Ratings Ltd., Moody's Investors Service and Standard & Poors to discuss Tennessee's bond rating.

In April, Moody's raised Tennessee's rating from Aa1 to Aaa. Fitch adjusted it from AA+ to AAA. Both are the highest available level.

The higher bond rating means lower interest rates on borrowing.

Bredesen has participated in these meetings every year since 2004.

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