AUGUSTA - Today, the state of Maine received a Aa2 bond rating from Moody's Investor Service. The news comes after Fridays strong S&P bond rating indicating the state of Maine is recovering from the pandemic, showing signs of strong financial health.
Chairs of the Legislatures Appropriations and Financial Affairs Committee released the following statements commending the updated bond ratings:
Senator Cathy Breen:
"The Appropriations and Financial Affairs Committee has worked closely with the Mills Administration to keep Maines fiscal outlook strong and steady during this challenging year," said Senator Cathy Breen, D-Falmouth. "Im proud of our bipartisan efforts, such as increasing the Rainy Day Fund to its highest level yet. The resulting excellent bond rating will allow Maine to borrow money at a very low rate, leverage a significant amount of federal funds, invest in our infrastructure and create good-paying jobs."
Representative Teresa Pierce:
"After a year of uncertainty, this is encouraging news that indicates Maines continued financial strength and stability," said Representative Teresa Pierce, House Chair of AFA. "These positive ratings recognize Maine's responsible debt management practices and careful stewardship of our shared resources. It is gratifying to see Maine achieve credit ratings that reflect the responsible stewardship that the Legislature, the State Treasurer and the Administration have worked in partnership to achieve. On a practical level, this means the fiscal health of our state is strong, which will help us get lower interest rates on the money that will be spent on improving our infrastructure for Maine people."
Media Contact:
Christine Kirby (Breen), 294-2468,
Jenna Howard (Pierce) , 214-3185