Delaware has received a triple-A credit rating, the highest mark a government agency can achieve.
Moody’s Investors Service, Fitch Ratings, and Standard & Poor’s Rating Services noted the strength of Delaware’s economy and labor market, as well as the state’s fiscal practices, such as maintaining significant reserves and providing frequent revenue forecasts.
Moody’s reported the addition of 9,600 new jobs in the last year, including steady growth in the state’s financial sector. The agency also mentioned strong financial management “characteristics” and “policies” to support the rating decision.
“The reports released by the agencies affirm our progress in strengthening Delaware’s economy, while budgeting responsibly,” said Gov. Jack Markell. “Combined with job growth that has consistently outpaced the national average and the recognition of Delaware as one of the top two states for the new economy, the triple-A ratings show Delaware is well-positioned for continued success. However, our work is never finished. We must continue efforts to ensure our workers have skills they need to compete for jobs and our entrepreneurs have the support they need to start and expand their companies.” Delaware has now earned the top rating from all agencies for the past
14 years, including through the recent economic recession and ongoing recovery.
