State’s Credit Rating Questions Raised
Oklahoma credit rating threat is without merit, state officials say
By Kathryn McNutt
A warning by Sen. Patrick Anderson that a refinancing plan requested by the Oklahoma State Regents for Higher Education could jeopardize the state’s credit rating is without merit, state officials said.
The regents’ request to the Oklahoma Capitol Improvement Authority to restructure their debt service on revenue bonds issued in 2010 is based on advice from the state Bond Advisor’s Office, regents spokeswoman Angela Caddell said.
Without the debt restructuring, an additional $10 million will be needed each year for the next four years to meet the debt payments, Caddell said.
Anderson, R-Enid, contends state law would allow the action only during periods of “financial distress.”