HELENA, Mont. (AP) — One ratings agency has maintained the state of Montana’s AA bond rating.
S&P Global Ratings released the decision on Monday.
The Independent Record reports that Gov. Steve Bullock called the rating “key” to the state’s financial health. States with higher ratings have lower costs when repaying bonds.
The ratings agency’s decision follows a special legislative session that wrapped two weeks ago. Lawmakers had to address a projected $227 million budget gap.
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The agency’s report says lawmakers’ actions and other cuts Bullock has approved were factors in maintaining the AA bond rating.