INDIANAPOLIS — State officials say an improved credit rating will save money by reducing interest rates on public debt.
Gov. Mitch Daniels announced Monday that Indiana has for the first time received the highest credit rating from Standard & Poors.
Office of Management and Budget director Ryan Kitchell says the AAA rating will allow the state to refinance some of the debt on Lucas Oil Stadium, saving the state $850,000 a year.
He said school systems also should see lower interest rates on their bond issues.
S&P; cited changes in the state’s property tax system and its stable economy for the upgrade.
A spokesman for Democratic gubernatorial candidate Jill Long Thompson said that while the credit upgrade was positive, the state’s unemployment rate has also increased.
Local News
8 a.m.: Indiana gets improved credit rating
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INDOT: Plow truck drivers prepared for expected snow
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Apartment fire routs residents
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Judge denies continuance for man involved in ’08 prison riot
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South Madison board interviews 4 finalists
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Scattered snow showers
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Poll question for Tuesday, Feb. 14
Vote daily in The Herald Bulletin poll. Today's poll qeustion can be found at the bottom of the homepage on the right side..
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Anderson hires consultant to assess software
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Arrest Log: Feb. 14
Arrests made by Madison County law enforcement on Sunday and Monday, based on Madison County Jail records.
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Proposed bill would streamline college credit transfer process
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