04/03/2013 01:55 pm ET | Updated Jun 03, 2013

Michigan Credit Rating Gets An Upgrade

(LANSING, Mich.) -- Gov. Rick Snyder announced Tuesday that Fitch Ratings has upgraded Michigan's general obligation credit rating to AA, the first time Fitch has rated Michigan above AA- since January 2007.

Standard and Poor's also upgraded Michigan's credit outlook to "positive," while affirming its AA- rating. Moody's announced a similar upgrade last week.

"Michigan is the comeback state and our progress is being recognized," Snyder said. "Within a week, we have seen positive movement from all three Wall Street rating agencies. That sends a clear message that Michigan is on the right track and moving forward."

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