Texas’ conservative spending record and sizable budget reserves has for the first time earned the state top marks from all three bond rating agencies.
Standard and Poor’s Rating Services last week bumped up Texas’ bond rating one notch to AAA, making it one of only nine states with a perfect scorecard from the rating agencies. Fitch Ratings and Moody’s Investors Service, the nation’s other two most prominent rating agencies, had long given Texas their top grade.
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