Email from Tennessee Comptroller Executive Assistant Jason Mumpower to Members of the Tennessee General Assembly, Oct. 3, 2011:
Honorable Senators and Representatives:
On behalf of Comptroller Justin P. Wilson, Treasurer David Lillard and Secretary of State Tre Hargett I am writing to share the good news we have received from the various rating agencies in regard to Tennessee’s status.
We have received a AAA rating from Fitch Ratings. The Fitch representative said that the credit rating agency is very impressed with the way Tennessee manages its business.
We have received an Aaa rating with a negative outlook from Moody’s Investors Service. The negative outlook is tied to the United States government rating previously received from Moody’s.
In addition, we have maintained a AA+ with positive outlook from Standard & Poors. This reflects no change from our previous rating.
We wanted you to have this good news as soon as possible. We appreciate your partnership in making Tennessee a state with well managed finances and a positive future.