Fitch affirms Idaho’s AAA credit rating for fifth year in a row

Boise, Idaho – Governor Brad Little commented on the announcement Thursday from Fitch Ratings, one of the three big credit rating agencies in the country, that it affirmed Idaho’s AAA credit rating, the highest level a state can receive. Only a handful of states achieve the AAA credit rating annually.

“Thanks to our diligent and unrelenting focus on maintaining a structurally balanced budget and saving healthy amounts for rainy days, Idaho has maintained the AAA rating from Fitch for five straight years, and I am very proud. The rating means we’ll save Idaho taxpayers millions of dollars on future projects. This is what good government is all about. I appreciate my partners in the Legislature for sharing my passion for maintaining a lean state budget and stable rainy-day funds. Our partners in the private sector, too, have done a tremendous job propelling Idaho’s economy forward,” Governor Little said.

Highlights from the Fitch announcement about Idaho include:

• Fitch believes Idaho’s longer-term revenue trend, adjusted for policy changes, is likely to exceed national GDP growth
• Even with recent debt (bond) issuances that invest in transportation and school facilities, Idaho’s long-term debt is expected to remain low
• Strong fiscal management of building up reserves and having a balanced budget allows Idaho to mitigate any softening of the economy or revenue shortfalls
• Population growth from 2010-2024 is up 27.7% exceeding the national rate of 10.2%
• Idaho boasts recent diversification in our economy with growth in transportation and warehousing, professional and business services, retail, construction, and healthcare sectors.