Gov. Ige traveling to San Francisco for bond rating meetings

Gov. David Ige travels to San Francisco today for a series of meetings with credit rating agencies. The governor and members of his team are working to secure favorable bond ratings in an effort to allow the state to borrow money at the lowest interest rates possible.

According to the administration, any savings from reduced interest payments will result in more general fund monies that will be available for affordable housing, education, health, and other important state programs. The state is primarily pursuing funding for new capital improvement projects.

Traveling with the governor are Director of Finance Craig Hirai, Director of the Department of Business, Economic Development, and Tourism Mike McCartney, Budget and Finance Administrator Rod Becker, 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 and Standard & Poor’s representatives.

Gov. Ige is scheduled to return to Honolulu on Oct. 5, 2022. Lt. Gov. Josh Green will serve as acting governor while Gov. Ige is out of town.