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Thu July 17, 2008
Wyoming's bond rating inches up
By Peter O'Dowd
Laramie, Wyo. – Standard and Poor's has raised Wyoming's credit rating to one of the strongest in the nation.
State Treasurer Joe Meyer says Wyoming's investment portfolio has grown to about 11-billion dollars and has nearly doubled in the past five years.
Meyers says investment income from the permanent minerals trust fund has been staggering.
"It is very close to becoming the single largest source of income to the state's General Fund," Meyers says. "I wish I could take all the credit, but I can't. It is a very conservative, very good portfolio."
Meyer says the portfolio is among the most diversified in the nation. He says it is well positioned to perform well despite a struggling U-S stock market. Meyer also notes that the recent report from Standard and Poor's credits Wyoming's legislative policies that have led to significant reserves for the future.