STAR Ohio Receives Highest S&P Rating
Program has maintained AAAm rating since 1995COLUMBUS – The State Treasury Asset Reserve (STAR) of Ohio has once again received Standard & Poor's highest rating of AAAm. The announcement marks the 27th consecutive year that the long-standing investment pool has earned the top rating.
"For more than a quarter century, STAR Ohio has proven to be a sound and reliable investment option for our local governments," said Treasurer Sprague. "This strength continues as we navigate market conditions and economic challenges caused by COVID-19. STAR Ohio’s stability is as important as ever before, and I'm proud that we can provide a high-quality investment vehicle for communities across the Buckeye State."
STAR Ohio is an investment pool that allows government subdivisions—from municipalities to school districts—to invest in high-grade, short-term securities while offering safety, penalty-free liquidity, and comparatively higher yields. Nearly 1,700 entities currently participate in the program, and there are almost 2,800 accounts across the state.
The same soundness and security that has long marked STAR Ohio became even more vital as 2020 presented local governments with a series of unforeseen financial challenges due to the COVID-19 pandemic. Throughout 2020, STAR Ohio continued to grow and reach new heights, setting several new high marks for total contributions and crossing the $18 billion mark for the first time in its history.
All eligible entities, regardless of their investment size, are invited to take advantage of this exceptional investment option. More information on the STAR Ohio program can be found online here.
Robert Sprague became Ohio’s 49th Treasurer of State on January 14, 2019, bringing to the office his extensive experience working on financial matters in both the public and private sectors. Under Treasurer Sprague’s direction, the office manages the state’s $29 billion investment and $11 billion debt portfolios, collects and deposits all state revenues, and oversees custodial assets.