Michigan Bond Rating

By: AP
By: AP

Gov. Rick Snyder plans to discuss the results of his trip to New York to meet with bond rating companies in an attempt to improve Michigan's rating.
A higher or improved rating would save Michigan money because it would be cheaper for the state to borrow for new construction projects.
During Monday's meetings, Snyder was expected to promote Michigan's improved economic outlook and fiscal restraints imposed in the recently approved state budget.
Snyder's office says he'll discuss the outcome of the meetings Tuesday.
Michigan lost its top AAA bond rating from Standard and Poor's in 2003. Years of bad economic news have limited Michigan's ability to improve its ranking with the three major agencies that rate state debt.
Michigan still has investment-grade bond ratings from them.

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