Moody’s boosts Nebraska’s credit rating to AAA

LINCOLN, Neb. (KLKN) – A well-known credit rating agency boosted Nebraska’s bond rating to AAA on Monday.

Moody’s cited Nebraska’s stable economy, conservative spending, low debit liability and financial flexibility.

“I praise Moody’s recognition of Nebraska’s strong economic position,” Gov. Jim Pillen said in a press release. “The trajectory of our state’s economy and financial stability is better than ever. We must continue our work to deliver a strong fiscally conservative budget and rebalance our tax structure, so we are less dependent on soaring local property taxes.”

Nebraska already enjoys a Standard & Poor’s bond rating of AAA, and the increase from Moody’s aligns the state’s bond rating across rating agencies.

The higher credit rating will help save the state money by reducing future borrowing costs for projects such as highway construction, Pillen said.

The governor also said it increases the state’s financial reputation, which is likely to attract additional investment.