Trending...
- Heritage at South Brunswick Introduces New Ferndale Floorplan: The Largest Single-Family Home Design in the Community
- LiteracyNation's 3rd Annual Indie Author Book Fair
- International Rights Groups Raise Alarm Over Freedom of Religion and Expression in South Korea
Harrisburg, PA ~ Moody's Investors Services has upgraded Pennsylvania's rating outlook to positive from stable and reaffirmed the Aa3 issuer rating, in a testament to the Commonwealth's sound fiscal management under the Shapiro Administration.
The upgrade is a result of significant increase in budget reserves over the past three fiscal years and Moody's assessment that core rainy day reserves will remain near current levels "due to sound budget management and continued steady revenue growth."
Governor Josh Shapiro expressed his pride in Pennsylvania being recognized for its sound financial management. "Today's rating reaffirms that our Commonwealth is on sound financial footing – and that with the commonsense investments we are making, Pennsylvania is on a path for continued economic growth," said Governor Shapiro. "Together with leaders in both parties, we passed a bipartisan, commonsense budget that makes historic investments in Pennsylvania schools and businesses, supports our law enforcement and first responders, and makes our families healthier. I'm proud that Pennsylvania has been recognized for our sound financial management – and my Administration will keep working to grow our economy and ensure the Commonwealth's fiscal outlook remains strong."
More on The PennZone
Secretary of the Budget Uri Monson also commented on the importance of this rating for Pennsylvanians. "Sound financial management makes a difference in the lives of Pennsylvanians every day – and this rating and upgraded outlook affirms that the Shapiro Administration is making responsible decisions to ensure fiscal stability for our Commonwealth," said Secretary Monson.
In addition to Moody's upgrade of Pennsylvania's rating outlook, Governor Shapiro also announced that the Commonwealth of Pennsylvania received the Distinguished Budget Presentation Award for the Annual Budget for fiscal year 2023-24 and the Certificate of Achievement for Excellence in Financial Reporting –the highest form of recognition in governmental accounting and financial reporting– from the Government Finance Officers Association.
For more information on Moody's upgrade or on Pennsylvania's bipartisan budget visit shapirobudget.pa.gov or contact ra-gvgovpress@pa.gov
The upgrade is a result of significant increase in budget reserves over the past three fiscal years and Moody's assessment that core rainy day reserves will remain near current levels "due to sound budget management and continued steady revenue growth."
Governor Josh Shapiro expressed his pride in Pennsylvania being recognized for its sound financial management. "Today's rating reaffirms that our Commonwealth is on sound financial footing – and that with the commonsense investments we are making, Pennsylvania is on a path for continued economic growth," said Governor Shapiro. "Together with leaders in both parties, we passed a bipartisan, commonsense budget that makes historic investments in Pennsylvania schools and businesses, supports our law enforcement and first responders, and makes our families healthier. I'm proud that Pennsylvania has been recognized for our sound financial management – and my Administration will keep working to grow our economy and ensure the Commonwealth's fiscal outlook remains strong."
More on The PennZone
- Rebecca L. Francis, Founder of the Rebecca Francis Team, Named to Lehigh Valley Business' LVB 300
- Crossroads4Hope Marks 25 Years Ensuring No One Faces Cancer Alone At its Inspiring Hope Gala
- Imagen Golf & Top 100 Coach Daniel Guest Voted Best Golf Instruction Firm of the Year 2026
- Q1 2026 Arizona Technology Industry Impact Report Recaps Advanced Manufacturing Growth, High-Value Jobs and Workforce Investment
- Former Prosecutor Opens Stegall Law in Summerville
Secretary of the Budget Uri Monson also commented on the importance of this rating for Pennsylvanians. "Sound financial management makes a difference in the lives of Pennsylvanians every day – and this rating and upgraded outlook affirms that the Shapiro Administration is making responsible decisions to ensure fiscal stability for our Commonwealth," said Secretary Monson.
In addition to Moody's upgrade of Pennsylvania's rating outlook, Governor Shapiro also announced that the Commonwealth of Pennsylvania received the Distinguished Budget Presentation Award for the Annual Budget for fiscal year 2023-24 and the Certificate of Achievement for Excellence in Financial Reporting –the highest form of recognition in governmental accounting and financial reporting– from the Government Finance Officers Association.
For more information on Moody's upgrade or on Pennsylvania's bipartisan budget visit shapirobudget.pa.gov or contact ra-gvgovpress@pa.gov
0 Comments
Latest on The PennZone
- Stop Bleeding Cash on Mediocre Talent. Build a Powerhouse Remote Team Instead
- Crownlight Strategies® Announces Federal Trademark Registration
- New Book Calls 'Sense of Belonging' the Missing Link in Student Success
- Igbozue Connecticut USA Celebrates 2026 Summer Family Picnic
- KT Medical Staffing Addresses the Questions Families Forget to Ask Before Bringing Private Nursing Care Home
- Private Autopsies Give Arizona Families Answers After Nursing Home and Care Facility Deaths
- Chuckie F. Mahoney Memorial Foundation Awards Nearly $40,000 in School Grants
- OPUS Global Data Solutions Launches Food Trader Plus, Bringing Operational Control and Deal-Level Profit Visibility to Food Brokers
- Phinge CEO DeMaio Unveils Speech to Congress: User Data Sovereignty vs Tech Surveillance Capitalism, Asserting Foundational 2021 App-Less Patents & IP
- Michael Maertens Hired as Century Fasteners Corp. – Chief Financial Officer
- LATO AI Software Innovations Expedite Inspections & Repair of Parking Lots for The Pavement Group
- Built to Last: Why BSI Is Among the Nation's Fastest-Growing Companies, and One of Its Best Places to Work
- Bent Danholm's The Architecture of Demand Reaches No. 2 in Amazon Real Estate Sales
- Contracting Resources Group Named to Inc. 5000 for the Ninth Time
- Nola Blue Records to Release John Németh's Illinois Central in March 2027
- ImagineX Named to 2026 Inc. 5000 List of America's Fastest-Growing Private Companies
- ASSIST Software Becomes One of the First European Companies Certified to ISO/IEC 42001
- The World's No.1 Superstar® Enters the Occult with New Track and Cinematic Visual "Under Your Spell"
- PricZone Launches Online Shopping Platform Offering Electronics, Gaming, and More
- Heritage at South Brunswick Introduces New Ferndale Floorplan: The Largest Single-Family Home Design in the Community