JEFFERSON CITY –Standard & Poor’s, a top global credit-rating agency, has reaffirmed Missouri’s AAA credit rating, Gov. Nixon announced today. In a news release, Nixon said the rating was done in conjunction with Missouri undergoing refunding of certain appropriation debt, which will result in savings over the life of the debt.

The rating, which applies to general obligation bonds issued by the state, helps keep borrowing rates low for school districts, local governments, and public bodies that borrow money to undertake major projects. Lower interest rates save taxpayers millions of dollars a year.

In reaffirming Missouri’s AAA rating, Standard & Poor’s noted Gov. Jay Nixon’s sound financial management, including early and decisive action taken to offset projected revenue declines; Missouri’s strong and diverse economic base; strong reserves and low debt burden.

“This rating demonstrates, once again, the fiscal soundness of Missouri state government,” Gov. Nixon said. “We’ve maintained a tight financial discipline on spending, even as we have faced some of the worst natural disasters in our state’s history in the past year. We’ll continue that discipline to serve the people of Missouri in the most effective and efficient way possible.”