|
|
INVEST, with $1.3 billion in assets, receives ‘AAAm’ rating from S&P Global Ratings
Harrisburg, PA — Pennsylvania Treasurer Stacy Garrity announced today that Treasury’s INVEST Program – an investment tool designed for local government agencies and nonprofit organizations – has again received the highest credit rating possible, AAAm, from Standard & Poor’s Global Ratings (S&P).
“INVEST is a great tool which helps our local governments, schools and nonprofits safely reach their financial goals,” Garrity said. “S&P’s affirmation of INVEST’s rating shows that our investment team is doing a fantastic job to benefit every program participant. I hope this news encourages more organizations to use INVEST to strengthen their finances and advance their missions.”
Treasury’s INVEST program is designed specifically for local government entities and nonprofit organizations like townships, counties, school districts, volunteer fire companies, libraries and others. The program, similar in concept to money market funds, offers two pools with daily liquidity and no minimum balance requirements. There are also periodic custom investment opportunities for longer-term needs.
INVEST portfolios are managed by Treasury’s investment staff, which also oversees the investment and custody of more than $150 billion in public funds.
The “AAAm” rating applies to both the INVEST Daily Pool and the INVEST Community Pool.
According to S&P, “A fund rated ‘AAAm’ demonstrates extremely strong capacity to maintain principal stability and to limit exposure to principal losses due to credit risk. ‘AAAm’ is the highest principal stability fund rating assigned by S&P Global Ratings.”
INVEST has been in operation for more than 30 years. Currently, more than 260 entities use the program, which has assets totaling about $1.3 billion.
To learn more about INVEST, visit patreausry.gov/invest or email investoperations@patreasury.
STACY GARRITY, STATE TREASURER
www.patreasury.gov
Information provided to TVL by:
Samantha Heckel, Press Secretary
