Government
6:34 am
Thu October 17, 2013

Haslam Defends TN Bond Rating

Tennessee Governor Bill Haslam is making his annual case for Tennessee to keep its strong bond rating.

The Republican governor traveled to New York yesterday to meet with the three main bond rating agencies, Standard and Poor's, Moody's Investors Service and Fitch Inc.

Haslam was asked to address the impact on the state of the partial shutdown of the federal government along with the effects of previous federal spending cuts.

Federal dollars account for about half of the state's annual $32.8 billion budget.

A Fitch analysis earlier this year concluded that Tennessee's debt ratio was the lowest in the nation. Higher bond ratings means lower interest rates on borrowing for the state.