Gov. Scott Walker
Press Release

Wisconsin’s Financial Outlook Receives Historic Upgrade

"Since taking office in 2011, we focused on fiscal responsibility and our state’s finances have significantly improved as a result."

By - Aug 4th, 2017 02:22 pm

Madison – Today, for the first time since 1973, Moody’s Investors Service upgraded the state of Wisconsin’s General Obligation rating to Aa1, up from Aa2.

“Since taking office in 2011, we focused on fiscal responsibility and our state’s finances have significantly improved as a result,” Governor Walker said.  “The upgrade in rating reflects our fiscal stability driven by bold reforms and accountable stewardship of the taxpayer’s dollar.  Moody’s decision to upgrade our rating, for the first time since 1973, shows that Wisconsin is working.”

According to Moody’s report:

  • Moody’s upgrade reflects the reserves and other balances that the State has maintained since 2011.
  • Moody’s upgrade is continuation of their positive view of Wisconsin, which started with the positive rating outlook assigned in November 2014.
  • Moody’s upgrade reflects the proven fiscal benefits of the state’s fully funded pensions when many other states are experiencing stress from rising costs and heavy liabilities associated with unfunded liabilities

With the upgrade, the State is expected to realize a reduction in its capital costs/interest rates on borrowings.  The amount of such savings will depend on market conditions at the time of borrowing.

A copy of the full Moody’s report can be viewed here.

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.

Mentioned in This Press Release

People:

Recent Press Releases by Gov. Scott Walker

Governor Walker Orders Flags to Half-Staff Honoring Master Sergeant Jonathan Dunbar

Governor Scott Walker ordered flags to half-staff on Saturday, April 14, 2018.

Governor Walker Orders Flags to Half-Staff as a Mark of Respect for Captain Christopher Truman of the Lake Mills Fire Department

Captain Truman died on December 31, 2018, while selflessly assisting a driver of a crashed vehicle on Highway 12 near the Yahara River Bridge in Monona, Wisconsin.

Governor Walker Appoints St. Croix County Judge and Ashland County District Attorney

Governor Scott Walker today appointed Attorney Scott J. Nordstrand to serve as a judge on the St. Croix County Circuit Court and Attorney David Meany to the position of Ashland County District Attorney.

Comments

  1. Rita Reinke says:

    So…what about the roads, highways, PUBLIC education , and health care?

  2. WashCoRepub says:

    Congratulations to a team that has shown amazing results in strengthening our fiscal stability, and in bringing jobs to our great state!

  3. daniel golden says:

    Moody’s bases their review primarily on the fully funded pension system, which Walker inherited and had nothing to do with. The current proposal for borrowing and bonding by Walker to deal with the 4th worse highways in the nation was not considered by Moody’s. What about the Wisconsin Taxpayers Alliance study which shows Wisconsin has the second highest government indebtedness of all 50 states, and the third highest total indebtedness? Is this prudent conservative financial management? Moody’s did not consider the current 3 billion dollar direct payments Walker has promised to Foxconn over 15 years, when he is hedging on adequate educational funding.

  4. Jake formerly of the LP says:

    Let’s not forget that Moody’s paid $864 million earlier this year for fraudulent ratings ahead of the Wall Street meltdown 10 years ago. Makes me wonder if they’re up to their old tricks- giving good ratings in exchange for increased business.

    Between the borrowed payments, $1 billion structural deficits in both the General and DOT Funds, and the rising GAAP deficit, this analysis made zero sense outside of the 100%-funded WRS. One little economic downturn, and this all blows up. And the bags of cash going to Fox-con would accelerate that.

    If we’re so fiscally stable in Wisconsin, why can’t we fix the roads or fund the schools? Doesn’t add up.

  5. Michael Schwister says:

    Moodys upgrade is good since we borrow more now for the public good and pay cash for corporate welfare since our free market legislature has been at the reins.

Leave a Reply

You must be an Urban Milwaukee member to leave a comment. Membership, which includes a host of perks, including an ad-free website, tickets to marquee events like Summerfest, the Wisconsin State Fair and the Florentine Opera, a better photo browser and access to members-only, behind-the-scenes tours, starts at $9/month. Learn more.

Join now and cancel anytime.

If you are an existing member, sign-in to leave a comment.

Have questions? Need to report an error? Contact Us