Monday, April 15, 2024

Louisiana Treasurer Responds to Bond Rating Upgrade with Optimism

by BIZ Magazine

BATON ROUGE – Louisiana State Treasurer John Fleming, M.D., has responded with optimism to the recent announcement by S&P Global upgrading Louisiana’s general obligation bonds rating. While the news signals positive strides in the state’s financial management, Fleming emphasized the importance of prudent fiscal policies and the commitment to reducing spending.

“The report recognizes that Louisiana’s economy is not where we want it to be, but it makes clear that the state’s prudent handling of spending and debt are allowing the state to operate prudently and in a conservative, businesslike fashion,” Fleming stated, reflecting on the significance of the rating upgrade.

Fleming commended past and present governors, legislators, and the people of the state for their efforts in improving Louisiana’s financial standing. “It is important that S&P has brought these improvements to the world’s attention,” he remarked, acknowledging the collective effort that contributed to the state’s progress.

“The rating upgrade is not only a financial boon but also a step forward in presenting Louisiana as a state with a solid financial structure and a conducive environment for business,” Fleming noted, highlighting the broader implications of the upgraded rating for the state’s economic prospects.

“The Louisiana Department of the Treasury remains committed to upholding fiscal responsibility and implementing sound financial policies to ensure continued growth and stability for the state,” Fleming affirmed, underscoring the department’s dedication to maintaining Louisiana’s positive trajectory.

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