Kentucky received another credit rating increase going from A to A+, according to an announcement from the governor’s office.
The rating from the S&P Global Ratings reflects the state’s ability to pay debts and the overall health of Kentucky’s economy.
Further, the increased score means a lower cost for taxpayers on the state’s investments in critical infrastructure projects, like roads, bridges, and schools. It also means that public employee pensions are more secure, according to Gov. Andy Beshear.
“This is good news for Team Kentucky as we show everyone that our economy is booming, our pensions are strong, and our fiscal house is in order due to strong management and smart choices that put our people first,” Beshear said. “This rating increase benefits every Kentucky family because it means every taxpayer dollar goes further toward the projects.”