NC can issue more debt and remain sound - WBTV 3 News, Weather, Sports, and Traffic for Charlotte, NC

NC can issue more debt and remain sound

Posted: Updated:
RALEIGH, N.C. (AP) -

An annual study says improving revenues mean North Carolina government can issue more debt and still remain within borrowing guidelines that panelists believe help the state retain its top credit ratings.

A panel led by State Treasurer Janet Cowell released its debt affordability report Friday. It found the state could issue $471 million in new debt this year and another $232 million by mid-2014 and keep annual debt service to no more than 4 percent of state operating revenues.

The report says the state is slightly below the 4 percent cap. A year ago, the state was slightly above.

Legislators and the governor review the report while making borrowing decisions for buildings and roads.

The report says there's no extra capacity to issue state transportation bonds until next year.

 

Copyright 2013 WBTV. All rights reserved

Powered by WorldNow