The “Big Three” bond rating companies again have given Georgia the highest rating of AAA, praising the state’s commitment to fiscal responsibility, record of economic growth, and job creation.
According to S&P Global Ratings, the rating reflects the state’s favorable population growth trends, and ability to attract diversified business developments. It cited Georgia’s already large and diverse economic base and said their expectation that the state’s annual growth rates will match or be slightly above that of the nation.
Sitting on a bulging budget surplus, Gov. Brian Kemp and Georgia lawmakers for the second year in a row were able to fund building projects with cash rather than general obligation bonds. However, storm clouds may be on the horizon in the form of the federal budget bill Congress passed two weeks ago, which slashes spending by about $1.5 trillion to help offset the revenue hit of a $4 trillion tax cut.
With states potentially facing huge losses in federal assistance, Kemp ordered state agencies last week to maintain current levels of spending in both their fiscal 2026 mid-year and fiscal 2027 budget requests.
