Three separate ratings issued Thursday by Standard and Poor’s (S&P) signals good news for the State of Wyoming’s immediate future. Two of the ratings, one tied to the State’s “General Obligation” bond rating and the other linked to the “Miscellaneous Tax” bond rating, were affirmed while the University of Wyoming Trustees’ “General Obligation” bond outlook was upgraded.
Wyoming State Treasurer Curt Meier, in a media release Thursday, said that part of these ratings assumes more severance taxes will be coming into Wyoming in the near future and this is good news for their office, because more severance tax revenue means fresh investment funds for the Permanent Mineral Trust Fund and Permanent Education Funds. Meier added that prices for securities are down significantly from where they were just a few months ago and the State should be able to take advantage of the current economic circumstances and expand Wyoming’s portfolio with some bargain prices. The S&P report along with reasoning for its ratings can be found here.