S&P ups Wyoming to AA+

Standard & Poor's said it raised its issuer credit rating on the state of Wyoming to AA+ from AA. The outlook is stable.

S&P said the upgrade reflects S&P's expectation that the state will continue to maintain elevated reserve levels due to significant revenue growth and the buildup of its permanent funds over the past five years. These reserves provide a significant buffer against cyclical swings in revenue related to the energy sector.

While the corpus of the permanent mineral trust fund is not available for general appropriations, interest earnings provide a stable and growing source of revenue to the general fund, the agency said.

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