State of Nevada receives credit rating upgrade from Moody’s Investor Services

CARSON CITY – Nevada State Treasurer Zach Conine announced the State of Nevada received a credit rating upgrade from Moody’s Investor Services as the Treasurer’s Office gets ready to complete a $135 million bond sale to finance priority transportation projects.

This marks a historic third credit rating increase for the State since Treasurer Conine first took office in 2019.

“Thanks to strong fiscal management over the last years, the various rating agencies continue to recognize that the State of Nevada is in a strong financial position,” said Conine. “Due to our State’s continued economic diversification efforts, tax revenues continue to overperform, which helps us build priority infrastructure projects at the lowest possible cost to residents.”

Last week, Moody’s Investor Services upgraded Nevada’s outstanding Highway Improvement Revenue (Motor Vehicle Fuel Tax) Bonds and Highway Improvement Revenue (Indexed Tax and Subordinate Motor Vehicle Fuel Tax) Bonds from Aa2 to Aa1.

Moody’s also assigned Aa1 ratings for the State’s upcoming $135 million bond sale to support highway transportation projects.

The State Nevada’s ratings for its 2024 issuance of Highway Improvement Revenue Bonds are as follows:

• Fitch Ratings: AA+, Outlook Stable
  
• S&P Global Ratings: AAA (MVFT); AA+ (IFT), Outlook Stable
  
• Moody’s Investor Services: Aa1, Outlook Stable