Fitch Ratings upgraded West Virginia's lottery and excess lottery revenue bonds from A+ to AA-, assigning a Stable Outlook.
The upgrade covers lottery revenue bonds issued by the Higher Education Policy Commission and excess lottery revenue bonds issued by the Economic Development Authority, Water Development Authority, and School Building Authority. Fitch cited resilient financing structures and ample debt-service coverage that could withstand significant revenue stress.
Governor Patrick Morrisey said stronger credit ratings can lower borrowing costs and protect taxpayer dollars. West Virginia's overall Issuer Default Rating remains AA with a Stable Outlook.
Originally published by Tri-State Alert
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