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S.C. Treasurer’s Office Lies About Credit Rating…

May 10, 2010

By SCHotline on May 10th, 2010 at 1:37 pm

SCHotline PERMALINK
Related: Free-Times Article

“We’re probably the most audited agency in state government,” he says. “In fact if we were not reviewed by the state auditor – and last year they had no money and we paid for it ourselves – we would not be a triple-A credit-rated state if we were not thoroughly reviewed every year. So that’s absurd as well.” ~Deputy State Treasurer Scott Malyerck
http://free-times.com/index.php?cat=1992209084141467&act=post&pid=11861005104212381

Also See: S.C. Treasurer’s Office Lies About Credit Rating

“Please find below the credit rating that shows SC with a double A credit rating…not a triple A. The Treasurer’s office ought to be truthful when they speak. Simple facts like this are damaging to their credibility.” ~SCHotline

Standard & Poor Says, South Carolina is a double A

http://www.alacrastore.com/research/s-and-p-credit-research-South_Carolina_General_Obligation-783386

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4 Comments leave one →
  1. May 10, 2010 4:41 PM

    I asked SC Treasurer Converse Chellis Where did 60 million dollars go and how did it reapear?

  2. May 10, 2010 4:43 PM

    in that video Chellis says that we have a AAA rating at 1:52 of the video

  3. Hal permalink
    May 10, 2010 4:47 PM

    Spin, spin and more spin from the Treasurer. I hope the media picks up on the story of how the treasurer’s office does not know what our credit rating is, and how they do not know the difference between a CAFR and an audit. One is a financial report of statewide activity, the other is…well, and audit! Only a cynical politician would claim they are the same thing.

  4. A CPA permalink
    May 10, 2010 6:03 PM

    To the extent these ratings are even somewhat accurate, it’s nice to know that California has the same rating as Libya and that it’s safer to lend to Botswana. SC a AA+ with the unfunded liabilities actually exceeding 20 billion is laughable.

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