Gov. Bill Haslam optimistic about state's credit rating

Gov. Bill Haslam optimistic about state's credit rating

Posted:

NASHVILLE (AP) - Gov. Bill Haslam said meetings with three credit agencies this week went well and he is optimistic about the outcomes.

Tennessee currently has AAA credit ratings from Moody's Investors Service and Fitch Inc. and a AA-plus rating from Standard and Poor's.

Haslam said in a conference call Tuesday from New York City that credit agency officials were impressed by the state's low per-capita debt and revenue that has exceeded expectations.

He said officials wanted to know how threatened federal cuts would affect the state.

Department of Finance and Administration Commissioner Mark Emkes said the state could lose about $40 million for education and more in indirect federal spending.

However, Haslam said that Tennessee officials feel the state is in a good position to weather cuts compared to other states.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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