CHARLESTON, WV (LOOTPRESS) – Gov. Justice took time out of his remarks about COVID-19 to announce that all of the “Big Three” credit rating agencies have affirmed their Roads To Prosperity Highway Bond ratings ahead of West Virginia’s third sale of road bonds, which is scheduled to take place within the coming weeks.
“This is terrific news. It’s so good, it’s unbelievable,” Gov. Justice said. “Many people coming through this terrible pandemic cannot say that they were approved by all three of these agencies in a way that kept us the same as before the pandemic.”
These agencies – Moody’s, Standard & Poor’s, and Fitch Group – reaffirmed their bond ratings of “Aa2”, “AA-”, and “AA”, respectively.
We’re approved. We’re stable. Everything was great. Why wouldn’t it be?” Gov. Justice said. “We have just been moving ourselves forward in West Virginia for some time now.
“I’m very, very proud of all those who have put in the licks to make this happen,” Gov. Justice continued.
So far, over $1.1 billion worth of major infrastructure improvement projects through Gov. Justice’s Roads To Prosperity program have either been completed to date or are currently underway with the funding from the first two rounds of bond sales.
West Virginia’s last road bond sale in 2019 generated over $746.5 million in proceeds, resulting in a premium of $146.5 million.
“We’re going to continue to do more and more road work,” Gov. Justice said Monday. “Our goal is to have the best roads, not what we’ve had in the past. These roads didn’t get this way on my watch. But what is going to happen on my watch is these roads are going to get in great shape.”