Cowell: State Still Holds Triple-A Bond Rating

State Treasurer Janet Cowell says North Carolina has preserved its top-level credit rating despite a difficult budget year.

Cowell said all three bond-rating agencies affirmed the state's triple-A rating as she awarded $372 million in bonds Tuesday.

The rating reflects a government's ability to repay loans and means it can get the lowest interest rates possible for its borrowing. Cowell says North Carolina is one of seven states with the top rating from all three agencies.

Cowell says the news is a vote of confidence for the state and that the Legislature and Gov. Beverly Perdue are managing the state's finances well despite declining revenues.

North Carolina lost the top rating from one agency in 2002 but got it back in 2007.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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