Top financial analysts Fitch and Standard & Poor’s reaffirmed Minnesota’s AAA rating, the highest rating awarded by the analysts. Fitch and Standard & Poor’s ratings reflect the state’s diverse economy, history of strong financial results, strong governmental framework, and moderate debt levels. Minnesota's hard work and adaptability through COVID-19 is seeing benefits through a strong economy and safe citizens. According to Fitch, “state government is more than just dollars and cents; it’s also about the safety and well-being of the population.”

Statement from Commissioner Schowalter: “Minnesota’s improved outlook and AAA ratings show our state’s enduring strength. Even after a tough year, investors can have confidence in the state’s fundamentals, including balanced economy, strong management, and commitment to progress that achieved a bipartisan budget compromise. Top ratings bolster our ability to continue making smart investments in Minnesota’s future by lowering interest rates for the state and reducing our cost of borrowing. Our ratings show that we have strong finances and also the ability to respond to challenges created by the pandemic.”

Statement from Governor Tim Walz: "Minnesota’s AAA rating from Fitch and Standard & Poor’s is a testament to our strong overall fiscal position and handling of the COVID-19 pandemic. Our economy is strong, and together, we are keeping Minnesotans safe and protecting the wellbeing of our state. Now, we need to keep investing in all Minnesotans, so our economy works for everyone, everywhere in Minnesota—not just those at the top.”

Statement from Lieutenant Governor Peggy Flanagan: “I am proud that Minnesota has maintained our stellar AAA rating by investing in the things that matter most during an unprecedented moment in our history. We know the pandemic did not impact everyone equally, however, and we must continue to lift everyone up as we recover.”