Abercrombie: Hawaii Heading In 'Other Direction' of Fiscal Cliff
The sale of $867 million in general obligation bonds by the state reflects strong investor confidence in Hawaii, Gov. Neil Abercrombie said Tuesday.
"As a result of the fiscal path that we were taking, confidence not only has been renewed but it's been enhanced," he said. "The credit rating agencies that take a cold and objective look, and investors who have to decide whether or not to continue to have confidence or in fact have increased confidence in the state of Hawaii, they make their presence known."
Abercrombie said the confidence extends to local investors. Of the $66 million in GO bond sales to individual investors, more than half are in-state.