"Georgia Fund 1 Retains S&P AAA"
The Gov Monitor website writes, "Georgia Fund 1 Retains Standard And Poor’s AAA Rating". The piece says, "Governor Nathan Deal and Georgia Treasurer Tommy Hills have announced that the nationally recognized credit rating firm of Standard and Poor's affirmed its highest money market fund rating of AAA for Georgia's own Georgia Fund 1." Deal comments, "The success of Georgia Fund 1 is a reflection of our state's commitment to sound fiscal management, even during the worst of budget crunches." Treasurer Hills adds, "I am gratified that Standard and Poor's continues to assign its highest rating to Georgia Fund 1,. This is a clear signal to Georgians that their governmental funds are being invested in adherence with the highest standards of money management." The piece also says, "For the past 30 years the Office of the Georgia State Treasurer has managed and administered a local government investment pool (LGIP) called Georgia Fund 1. The LGIP is available for the short-term investment funds of Georgia's county and city governments and school boards, co-investing with the state treasury and Georgia's colleges and universities. Georgia Fund 1 operates like a traditional money market fund for governments providing all investors with safety, liquidity and competitive investment returns. Georgia Fund 1 is one of the largest LGIP's in the nation, and for the past 20 years its investment performance has outperformed the benchmark returns for all LGIP's. More than $8 1/2 billion is currently invested in Georgia Fund 1."
