Boeing Bond Sale Successful; SC Maintains AAA Credit Rating
Tuesday, December 3, 2013
(Columbia, SC)—State Treasurer Curtis Loftis has announced that South Carolina received AAA ratings from both Moody’s and Fitch credit rating agencies for the $140.57 million in general obligation bonds that were sold last week. Standard and Poors assigned an AA+ rating. All three agencies gave a stable outlook for these new bonds, as well as for the current $1.7 billion in outstanding general obligation bonds. The bond sale included $85 million to assist with the expansion of Boeing in South Carolina.
“As State Treasurer, I am tasked with building positive relationships with the credit rating agencies in New York. I’m proud to announce that South Carolina has maintained our AAA rating. My staff is in regular communication with the ratings agencies and I personally visited all three agencies twice over the past year to help maintain our positive rating. The excellent rates we received from the bond sale are reflective of our high credit quality on debt,” said Treasurer Loftis.
Treasurer Loftis continued, “It’s been a pleasure to work with the General Assembly and Governor Haley to grow jobs and investment in our state. I look forward to the continued partnership between South Carolina and Boeing.”
The bond sale also included $23.2 million for highway refunding bonds, $15.2 million for the University of South Carolina and Clemson University, $14.1 million for Lander University, and $3 million for Winthrop University. The sale will close on December 10, 2013.