Culver touts state's credit rating - KTIV News 4 Sioux City IA: News, Weather and Sports

Culver touts state's credit rating


DES MOINES, Iowa (AP) -- Gov. Chet Culver and Treasurer Michael Fitzgerald are touting a new report giving Iowa the top rating granted by the credit rating agency Standard and Poor's.

The state officials announced the rating Thursday, saying the independent assessment shows the state's finances are in order.

Culver says Iowa was one of only 11 states that received a triple-A rating from Standard and Poor's. He says that's important because a giant stimulus plan he pushed through the Legislature calls for the state to issue more than $900 million in bonds, and the positive rating means the state will pay the lowest possible interest rate.

The rating comes as Culver and legislative financial advisers argue over the health of the state's finances.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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