Delaware secures $317M bond sale, maintains AAA credit ratings

Delaware has sold $317 million in bonds at a 3.836% rate, after once again earning top AAA/Aaa credit ratings from all three major agencies.

“These bond sale results, and our continued triple-A credit ratings, are testaments to our stewardship of Delawareans’ tax dollars,” said Governor Matt Meyer.

Delaware has now held a unanimous triple-A rating for 25 consecutive years. The agencies evaluate credit ratings based on a state’s financial management, debt levels, and long-term fiscal planning. These top ratings allow the state to secure lower borrowing costs, maximizing the impact of public investments.

“As our economy continues to grow, my administration is committed to leveraging our financial strength to deliver for the people of Delaware while maintaining our hard-earned reputation as a prime destination for investment and incorporation,” said Governor Meyer. 

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State Treasurer Colleen C. Davis said Delaware’s strong credit rating reflects a broader commitment to responsible financial management across state government.

“As Delawareans, we should all take pride in our long-standing culture of financial excellence,” said Davis. “My office works to maintain that culture every single day through prudent management of the State’s portfolio, and we’re fortunate to have strong partners across the government pulling in the same direction. All that enables us to make meaningful investments in infrastructure, education, and more – creating real value for people across our state.”

Proceeds from the bond sale will support a range of capital projects across the state, including school construction, bridge maintenance, beach replenishment, and the restoration and expansion of Wilmington’s historic Custom House.

“The success of this sale is a clear signal that Delaware’s financial management continues to earn the trust of investors,” said Secretary of Finance Michael Smith.

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“By maintaining our triple-A ratings, we’re able to borrow at the lowest possible cost — which means more of every dollar goes directly into the infrastructure, schools, and services that matter to Delawareans. It’s a strong outcome for our state and a reflection of our long-term commitment to fiscal responsibility,” said Smith. 

All three rating agencies cited Delaware’s strong fiscal oversight, stable reserves, and effective budget processes in reaffirming the state’s credit outlook as “stable.”

The full rating reports are available through the Delaware Department of Finance’s website.