Gov. David Ige is in San Francisco for a series of meetings with credit rating agencies. The governor and members of his team, which include Director of Finance Craig Hirai, Director of the Department of Business, Economic Development, and Tourism Mike McCartney, Budget and Finance Administrator Rod Becker, and the state’s Chief Economist Dr. Eugene Tian, from the Department of Business, Economic Development, and Tourism. are working to secure favorable bond ratings that will allow the state to borrow money at the lowest interest rates possible. The team is meeting with Moody’s and Standard & Poor’s representatives.
Any savings from reduced interest payments will result in more general fund monies that will be available for affordable housing, education, health, and other important state programs. The state is primarily pursuing funding for new capital improvement projects.
Gov. Ige is scheduled to return to Honolulu on Oct. 5. Lt. Gov. Josh Green is serving as acting governor while Gov. Ige is out of town.
(Photo credit: Office of Governor Ige)
