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.?

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"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.?

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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.?

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According to Moody?s Investor?s 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.?

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S&P Global Ratings said the AAA rating reflected the company?s view of Missouri?s long-term creditworthiness.

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"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."

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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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