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Last Week, Nevada State Treasurer Zach Conine announced the State of Nevada has maintained its highest credit ratings in history from Fitch Ratings, Moody’s Investor Services, and S&P Global Ratings during the state's upcoming $47 million bond sale for capital projects.
The high credit ratings assigned by these three rating agencies allow the State of Nevada to finance priority infrastructure projects at low market rates in a rising interest rate and high inflation environment.
The State of Nevada’s ratings for its Fall 2022 issuance of general obligation limited tax bonds are as follows:
· Fitch Ratings: AA+, Outlook Stable
· S&P Global Ratings: AA+, Outlook Stable
· Moody’s Investor Services: Aa1, Outlook Stable
Additionally, the three rating agencies reaffirmed their highest ratings in history for Nevada’s outstanding $1.2 billion in general obligation bonds.
The $47 million bonds that will be included in the State’s upcoming sale on November 15, 2022, are as follows:
- Series 2022D: $19.1 million - General Obligation (Limited Tax) Capital Improvement and Historic Preservation Bonds
- Series 2022E: $6.7 million - General Obligation (Limited Tax) Natural Resources Bonds
- Series 2022F: $4.7 million - General Obligation (Limited Tax) Open Space, Parks, and Natural Resources Bonds
- Series 2022G: $5.7 million - General Obligation (Limited Tax) Safe Drinking Water Revolving Fund Matching Bonds
- Series 2022H: $5.7 million General Obligation (Limited Tax) Water Pollution Control Revolving Fund Matching Bonds
- Series 2022I: $4.9 million General Obligation (Limited Tax) Water Pollution Control Revolving Fund Leveraged Bonds
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