Moody's Investor Service, a major national credit rating agency, has completed a review of Rhode Island's finances, finding that "strong financial management practices" contribute to the state's Aa2 credit rating and stable outlook.
"I am committed to delivering strong management of the state's finances to allow us meet the challenges posed by the Covid-19 crisis and get our economy growing again," said Rhode Island Treasurer Magaziner.
"Rhode Island's Aa2 rating incorporates the state's strong financial management practices, including multi-year financial planning, consensus revenue forecasting and consistent maintenance of reserves resulting in positive general fund balances," says Moody's.
The review looked at management practices, debt capacity, economic indicators and the state's fund balances. Rhode Island has maintained its Aa2 credit rating and stable outlook from Moody's since 2014.
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