Indiana earns top credit rating from all three major agencies

Tuesday, September 2, 2025 at 7:00 PM

Indiana has earned a AAA credit rating from all three major credit-rating agencies: S&P Global Ratings, Moody’s Investors Service, and Fitch Ratings. The AAA credit rating is the highest rating possible, and receiving it from all three major credit agencies demonstrates the State’s leadership in disciplined fiscal management, economic resilience, and long-term financial stability.

“Indiana’s AAA rating is more than a financial milestone,” said Governor Mike Braun. “It’s a signal to taxpayers, investors, and businesses that our state is well-managed, fiscally responsible, and focused on delivering growth for Hoosiers throughout the State.”

Only 14 states in the country have this top rating from all three agencies, with Indiana holding a AAA rating from all three rating agencies since 2010.

Indiana has active budget management, low debt, strong and transparent fiscal policies, and budgetary reserves that provide the foundation for an economy that has benefited from recent economic-development investments, said S&P Global, Moody’s, and Fitch respectively.

“The AAA rating is the gold standard and allows Indiana to borrow at lower interest rates,” said Indiana Secretary of Management and Budget Lisa Hershman. “That saves taxpayer dollars and strengthens the state’s ability to invest in infrastructure, education, and public services. It also strengthens Indiana’s competitive edge in attracting new business and expanding economic opportunity statewide.”

This fiscal responsibility allows the state to protect itself during economic downturns. Indiana stays resilient and continues to invest in Hoosiers. That investment pays off in good economic cycles as the investments prosper and Indiana still has resources to fund opportunities as they arise.

To learn more about Indiana’s credit ratings, visit the Indiana Finance Authority’s Credit Ratings page.