Delaware’s AAA Rating Reaffirmed

Delaware’s AAA rating has been re-affirmed by Moody’s, S&P Global Ratings and FitchRatings. AAA is the highest rating available for any state and last week Delaware received competitive bids for its upcoming sale of $380-million of AAA rated General Obligation Bonds. The AAA ratings lower costs for taxpayers and sustain the State’s ability to invest in new schools and other critical infrastructure – and it lowers the cost to repay bonds. Proceeds from the upcoming bond sale will fund a portion of the State’s capital program and refund previous bonds to realize debt service savings. The closing on the sale and receipt of bond proceeds is set for May 10^th.