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Idaho acquires ‘prestigious’ credit rating

Marc Lutz//October 3, 2023//

Idaho credit rating

The state of Idaho has acquired a AAA Fitch Rating. (Photo: Unsplash)

Idaho acquires ‘prestigious’ credit rating

Marc Lutz//October 3, 2023//

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Idaho’s credit rating has proven to be fiscally strong.

On Oct. 2, the governor’s office and State Treasurer Julie Ellsworth announced that Fitch Ratings gave Idaho a AAA issuer default rating.

“The IDR/AAA rating reflects the state’s credit strengths, including broad powers over spending and revenues, strong reserve levels, low long-term liability burden and expected solid long-term economic growth,” Fitch Ratings stated in a release.

The agency continued, stating that the state is “well-positioned to absorb the consecutive rounds of tax cuts adopted to date, given Idaho’s prudently managed budget with significant one-time spending that rolls off to create fiscal capacity.”

Ellsworth’s office stated that the accomplishment shows Idaho’s ability to stay fiscally strong and maintain financial stability, even in challenging economic times.