Utah Keeps Enviable Credit Rating

Utah Keeps Enviable Credit Rating

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(Salt Lake City-AP) -- Utah will keep a Triple-A bond rating.

The top grade was reaffirmed by Wall Street's leading credit-rating agencies yesterday.

The three big rating agencies praised Utah for taking quick action over the past two years to close a series of budget deficits.

Only eight other states share the Triple-A rating.

It means Utah will pay the lowest possible interest rates for road and building projects when it issues bonds worth 426(M)million dollars next week.

State leaders are gloating.

Governor Mike Leavitt says Utah survived a rigorous financial review.

Legislative leaders say it's proof the state is careful with its money.

More help is on the way. Utah is getting a windfall in federal aid from President Bush's tax-cut package.

The state received a downpayment of 38(M)million dollars yesterday on the special aid. It will total 117(M)million dollars.

(Copyright 2003 by The Associated Press. All Rights Reserved.)

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