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S&P Upgrades Florida’s Credit Rating To AAA

From the very local Jacksonville, Florida radio station, WOKV:

S&P upgrades Florida’s credit rating

By Matt Augustine
August 16, 2011

While the United States credit rating with Standard & Poor’s may have been downgraded recently, Florida’s jumped from AA+ to AAA.

S&P upgraded Florida in July, and the improved credit rating means better interest rates for the state. So Florida took advantage of that and refinanced some of its old bonds, thereby saving millions of dollars. Since July Florida has refinanced $1.5 billion in bonds, totaling $135 million in savings for the state.

"We went through, got lower pricing, because a triple A bond rating can give us that. In this marketplace, there aren’t many of us out there who have that rating," says Chief Financial Officer Jeff Atwater.

Tax reductions and state budget cuts were the keys to Governor Rick Scott convincing S&P to upgrate [sic] Florida’s credit rating.

Isn’t it peculiar the things that make it into the national ‘mainstream media’ and the things that don’t.

You would think that with all the talk about credit ratings, and S&P, this story would be a natural for the wire services and networks. But you would be wrong. This news is only being reported by a local radio station.

Of course, it might have something to do the article’s last sentence, and the fact that Florida has cut taxes and spending. Or, even worse, the fact that Florida has a Republican – some would even say, Tea Party – Governor.

The news media don’t want people in other parts of the country getting any crazy ideas.

This article was posted by Steve on Wednesday, August 17th, 2011. Comments are currently closed.

4 Responses to “S&P Upgrades Florida’s Credit Rating To AAA”

  1. proreason says:

    Great find Steve.

    Now this will make Rush and Mark’s shows and hit the big conservative sites.

  2. Right of the People says:

    “Tax reductions and state budget cuts were the keys to Governor Rick Scott convincing S&P to upgrate [sic] Florida’s credit rating.”

    But at what price did these cuts come? Did they have to cut the chillins free lunches?

    Good for Florida, it’s a start that maybe the rest of the country will pickup on. I’m not holding my breath though since Barry O’s propaganda machine will never say boo about it.

  3. untrainable says:

    Perhaps this is a recognition of the savings Florida is about to realize. They’re going to cut welfare way back by drug testing recipients. Once the dopers can’t get welfare, Florida will probably be able to afford their entitlements without going to Baby Barry for a bailout.

  4. beautyofreason says:

    More than a few state workers in Tallahassee, FL criticize Rick Scott on the job. Many don’t like his cuts and reductions to state government. It makes me like him even more. I also know that the city is a big spender. They are building a new library (granted, it began before Scott took office) on the outskirts of the county. It has a huge, stand alone 12 foot ornate stone arch leading in from a sidewalk that serves no purpose but decoration. The building is being promoted as green and will have solar panels.

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