Hawaii GO Debt Rating Affirmed At 'AA+' On Application Of New Criteria; Outlook Is Stable

NEW YORK (S&P Global Ratings) Oct. 1, 2024--S&P Global Ratings affirmed its 'AA+' long-term rating on the State of Hawaii's general obligation (GO) debt outstanding, based on the application of its "Methodology For Rating U.S. Governments," published Sept. 9, 2024. The outlook is stable. "The long-term rating incorporates our view of Hawaii's proactive financial management and oversight, including a demonstrated commitment to expenditure adjustments to close budgetary gaps and the state's use of comprehensive long-term forecasting to align finances with evolving economic conditions and manage elevated long-term liabilities," said S&P Global Ratings credit analyst Tom Zemetis. Although the state's leisure and hospitality sector has faced disruptions since 2020--including those caused by wildfires in 2023--Hawaii has had a steady flow of

...October 1, 2024 NEW YORK (S&P Global Ratings) Oct. 1, 2024--S&P Global Ratings affirmed its '##+' long-term rating on the State of Hawaii's general obligation (GO) debt outstanding, based on the application of its "Methodology For Rating U.S. Governments," published Sept. 9, 2024. The outlook is stable. "The long-term rating incorporates our view of Hawaii's proactive financial management and oversight, including a demonstrated commitment to expenditure adjustments to close budgetary gaps and the state's use of comprehensive long-term forecasting to align finances with evolving economic conditions and manage elevated long-term liabilities," said S&P Global Ratings credit analyst Tom Zemetis. Although the state's leisure and hospitality sector has faced disruptions since 2020--including those caused by wildfires in 2023--Hawaii has had a steady flow of domestic tourism and an incremental rebound in international tourism activity in 2024 and developed conservative revenue growth forecasts...

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