Maui Business

Gov. Ige Travels to San Francisco for Bond Rating Meetings

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Governor David Ige. File photo by Wendy Osher. (4.15.16)

Gov. David Ige is in San Francisco for a series of meetings with credit rating agencies. The governor and members of the Department of Budget and Finance are working to secure favorable bond ratings that he said will allow the state to borrow money at the lowest interest rates possible.

According to administration officials, savings from reduced interest payments will result in more general fund monies that will be available for education, health, housing and other important state programs.

The state is also pursuing funding for new capital improvement projects and looking at refinancing opportunities for existing bonds.

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Traveling with the governor is Director of Finance Wesley Machida, Deputy Finance Director Laurel Johnston, Budget and Finance Administrator Scott Kami and the state’s Chief Economist Dr. Eugene Tian, from the Department of Business, Economic Development and Tourism.

The team is meeting with Moody’s, Fitch Ratings, and Standard & Poor’s.

Gov. Ige is scheduled to return to Honolulu on Tuesday, April 11. Lt. Gov. Shan Tsutsui is serving as acting governor while Gov. Ige is out of town.

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