(COLUMBUS, Ohio)— Ohio Governor Mike DeWine, Lt. Governor Jon Husted, and Ohio Office of Budget and Management (OBM) Director Kimberly Murnieks announced today that Fitch Ratings upgraded Ohio’s long-term Issuer Default Rating (IDR) to “AAA” from “AA+” reflecting a material strengthening of the state’s financial resilience and budget management, particularly over the past two biennia.

The rating action is Ohio’s first “AAA” rating with Fitch, which began rating Ohio’s credit in the 1990s and represents the highest rating for Ohio’s IDR by one of the three main rating agencies since 1979. The benefit of a higher credit rating allows Ohio to achieve a lower cost of borrowing which ultimately achieves success on behalf of all taxpayers.

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