The state of Minnesota has a triple-A credit rating from all three major agencies for the fourth year in a row. Gov. Tim Walz says the top rating is a “testament to the strength of Minnesota’s economy and our commitment to responsible financial stewardship.”

Minnesota is one of just 16 states with the highest rating from Moody’s, S and P, and Fitch. State Management and Budget officials say the rating helps protect long-term investment and signals confidence int he state’s economy.

The top rating also reflects the state’s balanced budget approach and strong reserves, according to state finance officials. Minnesota entered the current biennium with a surplus, and lawmakers set aside billions for the state’s rainy day fund, a move that ratings agencies consider a safeguard against economic downturns.

Economic diversity also plays a role. Analysts note that Minnesota’s mix of industries, ranging from health care and technology to agriculture and manufacturing, creates a stable foundation for growth and resilience. State leaders say maintaining this rating ensures Minnesota remains competitive in attracting businesses and investors while keeping costs lower for taxpayers.