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State bonds sell well despite ratings-outlook downgrade

Post by Brad Shannon / The Olympian on Jan. 31, 2012 at 2:14 pm with No Comments »
February 14, 2012 5:28 pm

Two national ratings agencies downgraded the “outlook” for Washington state finances to “negative” on Monday. Tom Banse of public radio had the story here.

Whatever the impact, the uncertainty did not get in the way of the state’s record $978 million bond refinancing this morning. Treasurer Jim McIntire’s office says the sale saves taxpayers $154 million, about $15 million of that in the current biennium.

McIntire also called it the “largest tax exempt competitive bond sale” in the country since the September 2008 financial crisis.

State Government
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