Agencies Upgrade Ratings for Louisiana’s Highway Improvement Bonds
BATON ROUGE – The Louisiana Department of Treasury said that S&P and Fitch Ratings upgraded the rating on $201 million in state highway improvement bonds that will be refinanced to repair and resurface rural roads across Louisiana. This is the first time Louisiana has received a rating upgrade since 2011.
Both S&P and Fitch Ratings upgraded the bonds from AA- to AA. The bonds, which are paid with truck and trailer registration fees, will be sold next week.
“This is a great start to 2021 and a much needed bit of positive news. The better our bond rating, the cheaper it is for us to borrow money for public projects,” said State Treasurer John Schroder. “The rating upgrade saves the public money, which frees up additional funding for repairs to rural roads.”