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Agencies to Reaffirm TN's Top Credit Rating

By Todd Hatton

Murray, KY – Tennessee officials say two of the agencies rating government bonds have reaffirmed the state's top credit rating. Senior aide to the state comptroller Jason Mumpower says Moody's Investors Service and Fitch Inc. will leave the state's rating at triple-A. He says Standard & Poor's has stated it plans to rate the state as double-A-plus with a positive outlook. Wall Street agencies had considered downgrading Tennessee's debt because of the state's high dependence on federal spending. Last month, Republican Governor Bill Haslam and other finance officials traveled to New York to present plans to deal with federal spending cuts as deep as 30 percent.