*Missouri Governor Michael L. Parson*

Office of Communications

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*FOR IMMEDIATE RELEASE*

March 5, 2020

*Missouri Taxpayers to Save $3 Million Through Bond Refinancing*

*(JEFFERSON CITY, MO) * This week, the State of Missouri will refinance a current series of bonds, saving Missouri taxpayers approximately $3 million.



"This bond sale is just one example of how we continue working to maintain our AAA credit rating, which will save millions for Missouri taxpayers," *Governor Mike Parson* said.



Specifically, the refinancing will refund a portion of the outstanding bonds issued to fund the Chillicothe Correctional Center.The outstanding interest rate of 0.82 percent increased expected savings on the Series A 2020 bonds.



According to Moodys Investors Service, The credit profile of the State of Missouri (AAA stable) is characterized by a history of solid reserve levels, sound fiscal management controls, and below average debt and pension burden.



S&P Global Ratings said the AAA rating reflected the companys view of Missouris long-term creditworthiness.



"This is great news for the state of Missouri," *Governor Parson* said. "We always want to do what's best for our citizens, and this shows we're doing just that."



Over the past ten years, the State of Missouri has paid down more than $200 million in state debt.

The Board of Public Buildings met on February 27 to discuss the purchase, sale, and issuance of the Special Obligation Refunding Bonds, Series A 2020.

Governor Parson, Lieutenant Governor Mike Kehoe, and Attorney General Eric Schmitt were in attendance.



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*Contact: Kelli R. Jones*

Communications Director

Work: 573-751-0765

Mobile: 573-508-9072

Email: [email protected]

Website: www.governor.mo.gov


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