State Treasurer David McRae today announced Moody’s Ratings has upgraded Mississippi’s Gaming Tax Revenue bonds two levels, from A3 to A1.

“Momentum behind Mississippi’s economic stability continues,” said McRae. “With support and leadership from Governor Tate Reeves and state leaders, Mississippi has been able to pay our bills on time, manage our debt well, and avoid the pressure to conform to woke investment strategies. While I understand the state’s financial success doesn’t always mean it’s easier for families to afford their groceries, gas, or utilities (as those items are largely affected by federal economic policies), victories like this help ensure your state government isn’t part of the problem. As Treasurer, I am committed to maintaining this momentum and continually pushing Mississippi’s economy toward stability and prosperity.”

The upgrade from Moody’s Ratings comes just days after Fitch Ratings reaffirmed the state’s strong AA credit rating. Additionally, this August, the Treasury announced that during the last fiscal year under McRae’s leadership, they were able to earn the state $375 million in interest income, helping alleviate the state’s financial burden on taxpayers.

Since taking office, McRae has also strengthened the financial stability of MPACT. The Legacy Plan, which was just 72 percent funded when McRae took office, is now 99.7 percent funded. The Horizon Plan is fully solvent.

Finally, in September, McRae surpassed $110 million in unclaimed money having been returned to the state during his tenure.