#United States #Columbia #South Carolina #Credit Ratings #Curtis Loftis

South Carolina's Strong Financial Standing

On August 5, 2025, South Carolina's State Treasurer, Curtis Loftis, announced that the state has reaffirmed its robust credit ratings from the three top rating agencies: S&P Global, Moody's, and Fitch Rating Services. This affirmation underscores South Carolina's solid financial management and disciplined fiscal practices, especially during trying economic times.

Importance of High Credit Ratings

Treasurer Loftis stated, "Safeguarding our state's credit ratings is one of my most important responsibilities as Treasurer." He expressed pride in the state's ability to maintain these ratings, which are vital for enhancing financial credibility. The recent credits affirmations reinforce the notion that South Carolina is walking a stable financial path, successfully navigating the complexities of public finance.

The Treasurer’s office has been recognized for its commitment to transparency and proactive measures in financial practices, ensuring that budgets remain balanced and reserves continue to grow, even amidst economic downturns. As Loftis puts it, "These ratings are not just letters on a page – they directly save our taxpayers money by lowering the cost of borrowing for public services.”

Summary of the Ratings

The state has achieved:

• - An AAA rating with a stable outlook from Fitch
• - An Aaa rating from Moody's
• - An AA+ rating with a stable outlook from S&P Global

These ratings reflect the robust institutional framework and sound financial management that characterize South Carolina’s economic landscape. The affirmations were part of the agencies' annual reviews and are not attached to any pending bond issuance, signifying that the state is on a solid footing for future growth and investment.

Debt Management Strategy

The State Treasurer’s Office Debt Management Division plays a crucial role in overseeing the borrowings of the state and its various agencies. This division is dedicated to securing the most efficient and cost-effective borrowing terms while also safeguarding the interests of lenders, investors, and bondholders. Loftis remarked, “These achievements reflect the hard work and diligence of the Treasurer’s Office in maintaining transparent, consistent communication with our rating agency partners and managing the state’s finances with integrity and foresight.”

The state's approach combines financial discipline with effective communication, reinforcing confidence among investors and stakeholders.

Conclusion

In conclusion, the reaffirmation of high credit ratings for South Carolina signals not just a triumph for the officials in office but also a win for the citizens. It is crucial that the administration, under Treasurer Loftis, continues to uphold these standards as they directly affect how much the state needs to spend for public services. Maintaining such financial health will enable South Carolina to thrive and provide valuable services for years to come.