From staff reports OKLAHOMA CITY – A delegation of Oklahoma leaders recently traveled to New York City to meet with the nation’s leading credit rating agencies: S&P Global Ratings and Fitch Ratings.
These strategic meetings “highlighted Oklahoma’s improving economic outlook and the state’s efforts to strengthen its bond ratings,” State Treasurer Todd Russ said.
“Oklahoma is thriving and we are telling our story on a national stage,” he said. “Our conservative fiscal policies, historic reserves, and robust economic diversification are being recognized. Meetings like these are critical in demonstrating our financial progress and ensuring the best possible outcomes for Oklahoma taxpayers.”
This marks Russ’ third coordinated outreach with the leading credit rating agencies, building on previous efforts. By fostering ongoing dialogue, state leaders continue to highlight Oklahoma’s commitment to fiscal discipline and economic innovation, he said.
In 2024 Moody’s upgraded Oklahoma’s credit rating to Aa1, the second-highest possible rating, citing strong reserves, low debt, and prudent fiscal management. Earlier, S&P Global and Fitch Ratings both revised the state’s outlook to positive, emphasizing economic stability and resilience.
“Oklahoma has one of the strongest economies in the nation, as is reflected in our high credit ratings,” said Lt. Governor Matt Pinnell. “Our state balances having both minimal debt and strong reserves with the lowest costs of living and doing business, making us the most pro-business state in the country. With our strong financial standings, Oklahoma is set up for long-term financial success to impact generations to come.”
The trip also allowed state leaders to provide updates on key financial strategies, including Oklahoma’s proactive approach to pension funding, debt reduction, and leveraging economic diversification to counter volatility in energy markets.
“We were able to show that Oklahoma’s economy has done well and our fiscal house is in order, which hopefully will lead to increasing our bond ratings,” said Senate President Pro Tem-elect Lonnie Paxton (R-Tuttle). “Historically we have been successful in making the case for the state by passing good, conservative and fiscally responsible legislation that has put Oklahoma on the right trajectory, leading to increased ratings by bond agencies.”
“Oklahoma’s robust economy, unprecedented savings and track record of conservative fiscal policies are some of our best assets,” said Senate Appropriations Chairman Chuck Hall (R-Perry). “I’m optimistic that these meetings will result in improved state bond ratings, enabling us to make the most of taxpayers’ dollars while ensuring Oklahoma’s financial stability for years to come.”
Other members of the state delegation included the state’s bond oversight team, who worked to ensure analysts had a full understanding of Oklahoma’s economic trajectory.