Alabama's Financial Performance "Above Average"

Moody's Investors Service is considering upgrading Alabama's bond rating, a action that would lower the state's borrowing costs.

"Alabama's financial performance has been above average compared with other states," a bond analyst said. Moody's also cited the state's legal and constitutional provisions that "ensure conservative fiscal practices."

Governor Riley and the state legislature deserve a great deal of credit for adhering to sound financial practices in bringing the state through last year's budget crisis. The state's voters also deserve to be commended for ensuring fiscal discipline by rejecting a major tax increase at the ballot box in 2003.