Bond Rating Raised

For the first time since 1984, Standard and Poors has raised its rating on Louisiana's General Obligation bond debt to AA (Double-A).Governor Jindal says the higher rating shows that the business world is taking note of the administration's work to expand and diversify the state's economy while "pursuing reforms to make government more fiscally responsible." This is the sixth credit rating upgrade the state has received from the three major credit-rating services in the past three years. The Commissioner of Administration's Office says earlier this year, Fitch Ratings reaffirmed Louisiana's G-O bond rating of AA and the state's G-O bonds are rated Aa2 by Moody's Investor Service.