The three major rating agencies awarded Delaware a triple-A credit rating, the highest mark that a state can achieve.
Delaware has earned the rating for 17 years.
“Delawareans expect us to responsibly manage the state’s finances, protect taxpayer dollars, and make smart investments on behalf of the people of our state. These ratings re-affirm our commitment to those principles,” said Gov. John Carney.
Moody’s Investors Service, Fitch Ratings and Standard & Poor’s Rating Services recognized the state’s fiscal practices and, in doing so, cited the state’s proactive management style, financial operations and history of maintaining ample budgetary reserves.
The ratings were released as the state prepares to take bids on $225 million in general obligation bonds on Feb. 23. The bonds will be sold to fund state objectives — including improvements to schools, libraries and other state facilities.
A triple-A rating will allow the state to fund these projects at the lowest possible interest rates.
"Delaware has established solid, conservative principles for sound financial management," said Finance Secretary Rick Geisenberger. "We remain committed to making financial decisions that protect the interests of our residents, businesses and taxpayers."