Record $1.88 billion in bond sales for projects statewidePosted on Oct 27, 2021 in Capitol Connection, Featured, Main
Confidence in the state’s economy was reaffirmed by a record bond sale and favorable outlooks by three national credit rating agencies, Fitch, Moody’s and Standard & Poor’s. Money from the sale will be used to fund new and existing projects statewide, which in turn support Hawai‘i’s economy. “These are critical state construction projects, including schools, highways, airports and harbors,” said Governor Ige. “These investments improve services and create jobs in our community and contribute to the state’s economic recovery.”
As a result of the governor and the state’s finance team presentation to the three primary credit rating agencies, Moody’s revised the outlook for the state to “positive,” which reflects “a significant turnaround in the state’s economic and financial position,” according to Moody’s report. Last month, the governor announced release of $602 million for public infrastructure projects.