Governor Scott Walker announced that Fitch Ratings upgraded Wisconsin’s bond rating to “AA+” from “AA.” The announcement comes on the heels of news that Kroll Bond Rating Agency also upgraded the state’s bond rating to “AA+.”
“This is now the second agency in as many days to upgrade Wisconsin’s outlook, and it shows our reforms are working for Wisconsin,” Governor Walker said. “We proved you can budget responsibly and make strong investments in priorities like education and infrastructure while holding the line on taxes.”
The following is an excerpt from the Fitch Ratings report:
“The state’s fiscal performance was historically challenged by structural imbalances and a reliance on one-time resources to cover budgetary needs. The fiscal 2011-2013 budget marked a turning point, with extensive structural budget actions and the resolution of several lingering fiscal challenges.”