first_imgFor Immediate Release:Monday, February 05, 2007 Jason GibbsGovernor’sCommunications Director109 State Street ¨ The Pavilion ¨ Montpelier,VT 05609-0101 ¨ is external)Telephone: 802.828.3333 ¨ Fax: 802.828.3339 ¨ TDD: 802.828.3345 Governor Douglas said Vermont,which has not had a triple-A rating from Moody’s since 1972, is now oneof only 11 states with a triple-A rating by one or more of the major creditrating agencies.  ### GovernorDouglas, Treasurer Spaulding Announce Triple-A Bond Rating Contacts:  Treasurer Jeb Spaulding, (802)828–1452Jason Gibbs, Office of the Governor, (802) 828-3333 Moody’s draft statement announcing the upgrade credited Vermont’s historyof financial management, our manageable debt profile – including ongoingefforts to properly fund our pension systems – and a stable, diversifyingeconomy. According to State Treasurer Spaulding, “The triple-A rating canbe expected to reduce the State’s borrowing costs and, over the years,save taxpayers millions of dollars in interest costs that can be better spenton pressing needs or returned to taxpayers.  In addition, this will enhance oureconomic development efforts because companies are attracted to states with areputation for solid and stable financial management.” “While we celebrate this important milestone, we must remindourselves what it took to get here and what it will take to stay here,”the Governor added.  “We must continue to maintain our commitment tofiscal responsibility and conservative debt management.” v\:* {behavior:url(#default#VML);}o\:* {behavior:url(#default#VML);}w\:* {behavior:url(#default#VML);}.shape {behavior:url(#default#VML);}st1\:*{behavior:url(#default#ieooui) }JAMES H. DOUGLAS            GOVERNOR Montpelier, Vt. – Governor Jim Douglas and State Treasurer JebSpaulding today announced Moody’s Investor Services has upgraded Vermont’s bond ratingto triple-A, the highest credit worthiness rating available. “A higher rating makes our bonds more attractive to investors,lowers our costs and saves taxpayer money,” the Governor said. “Gettingto this point has required a tremendous amount of cooperation and planning by boththe executive and legislative branches.  It also required a healthy dose ofgood old-fashioned Vermontfrugality.” State of VermontOFFICE OF THE GOVERNORlast_img read more