Career Center | Print Page | Sign In | Join
News & Press: 2018 Economic Development News

Governor Northam Statement on S&P Global Ratings’ Upgrade of Virginia’s Financial Outlook

Tuesday, June 12, 2018  
Share |

Governor Northam Statement on S&P Global Ratings’ Upgrade of Virginia’s Financial Outlook

 

~ Following budget adoption, agency moves outlook back to stable ~

 

RICHMOND—Governor Ralph Northam today issued the following statement regarding S&P Global Ratings’ move to affirm Virginia’s AAA bond rating and upgrade the Commonwealth’s financial outlook to stable. In April 2017, the ratings agency downgraded the Commonwealth’s outlook from stable to negative. The upgrade follows Governor Northam’s adoption of a historic budget that expands Medicaid and allocates more dollars for the state’s primary reserve funds.

 

“I’m encouraged that the actions we’ve taken to shore up our reserve funds and to finalize a fiscally sound budget have resulted in an upgraded outlook from S&P Global Ratings. This demonstrates the fiscal health of the Commonwealth and affirms the work we have done over the course of the session to ensure our critical AAA bond rating remains intact.

 

“This is a positive sign for Virginia’s economy and I look forward to continuing to work with the General Assembly to make the Commonwealth work better for every family.”

 

###


Contact

1340 N. Great Neck Road, #1272-128
Virginia Beach, Virginia 23454
757-412-2664
VEDA@AssociationBuilders.com

Copyright © 2018. All Rights Reserved.

 

Connect