La. bond rating upgraded

Standard & Poor’s has boosted Louisiana’s bond rating because of the state’s willingness to fix structural problems in its budget. The S&P rating went from “AA-” to “AA.” In a statement, Gov. Bobby Jindal says this is the first time since 1984 the state had an “AA” rating. This “shows that the business world is taking note of our work to expand and diversify the state’s economy while pursuing reforms to make government more fiscally responsible,” Jindal says. Better bond ratings are like credit scores, making it easier and less expensive for the state to borrow money. According to the Division of Administration, this is the sixth time since Jindal took office that one of the three major credit agencies gave Louisiana a better bond rating.