WILMINGTON — Gov. John Carney on Thursday announced that Moody’s Investors Service has assigned an Aa1 rating to the Delaware Transportation Authority Series 2022 transportation system senior revenue bonds and Standard & Poor’s assigned its “AA+” long-term rating to Delaware Transportation for the 2022 revenue bonds series.

Both rating agencies affirmed credit ratings of Aa1 (Moody’s) and AA+ (S&P) for the Authority’s transportation system senior revenue bonds series outstanding, both agencies issued a stable outlook for the transportation system revenue bonds.

Moody’s has also reaffirmed the State’s AAA rating, the highest rating available for any state.

The Moody’s opinion lists other strengths including “lower business costs and cost of living relative to neighboring states” and the recently enacted FY23 budget that increases state reserves, improves funding of post-retirement healthcare benefits, and “directs a large share of expected revenue to non-recurring items such as capital investments.”

Moody’s Investors Service and Standard & Poor’s provide independent rating opinions on the credit worthiness of public agencies and private organizations.