South Dakota’s gets AAA credit rating from Fitch

Credit rating company Fitch has given the state of South Dakota a AAA credit rating.

Fitch highlighted South Dakota’s diverse economy, ample financial flexibility, competitively low long-term liabilities and impressive employment gains.

In reaction to the news, Governor Larry Rhoden said South Dakota’s economy is thriving and its rating outlook remains stable. He said fiscal conservatism, commonsense regulatory policies and record unemployment rates will ensure the state’s economic success continues.

“The state’s ‘AAA’ IDR is supported by consistently well-managed fiscal operations, strong reserve balances and a history of maintaining budgetary structural balance,” wrote Fitch.