Michigan’s Credit Ratings Reaffirmed

Jul 21, 2023

by Liz Gullett

As MLC’s Communications and Social Media Manager, Liz Gullett keeps clients informed and up-to-date on the goings on in Lansing and the Capitol.

All three main international ratings agencies have reaffirmed Michigan’s credit rating this week.

Moody’s Investors Service:

    • Reaffirmed their Aa1 rating with a “stable outlook.”
    • They noted the state has effective financial forecast practices, budgetary reserves at record levels, and an increasingly diverse economy.

Fitch Ratings:

    • Reaffirmed their AA+ rating with a “stable outlook.”
    • They stated Michigan has a high level of financial resilience and low long-term liability burdens.
    • Additionally, Michigan’s economy is broad based and marked by stronger diversity than before the last pre-pandemic recession.

Standard & Poor:

    • Reaffirmed their AA rating with a “stable outlook.”
    • They stated Michigan has enacted good budget practices, increased its “rainy day” fund, and is likely to have strong economic performance.
    • Further adding, Michigan has established itself as a leader in testing autonomous vehicles and is benefiting from a strong research presence.

Michigan Legislative Consultants is a bipartisan lobbying firm based in Lansing, Michigan. Our team of lobbyists and procurement specialists provide a wide range of services for some of the most respected companies in America. For more on MLC, visit www.mlcmi.com or connect with us on LinkedIn and Twitter.

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