INDIANAPOLIS (June 29, 2005)
– Standard & Poor’s Ratings Service has revised the
state’s credit outlook to ‘AA positive,’ citing Indiana’s
commitment to fiscal discipline and economic stabilization. The independent
credit rating service issued its report today.
Indiana’s
credit outlook had been ‘AA stable’ since January 20, 2004.
“We are grateful for the recognition of our work to
put the state’s fiscal house in order,” said Governor Mitch
Daniels.
According to the report, Standard & Poor’s
(S&P) outlook revision “reflects the state’s early economic
stabilization and improving position that translated into stronger tax
growth.”
The report also said, “In terms of the state’s
financial position, Governor Daniels and the legislature have agreed upon a
biennium budget for fiscals 2006 and 2007 that is the first budget in ten years
to add to fund balance at the time of adoption.”
Click on credit ratings. (The report may be viewed at this site
for 24 hours.)
-30-