Agency: Bank of N.D. remains strong
A national ratings agency said the state-owned Bank of North Dakota is in great shape. Standard & Poor’s raised the bank’s credit ratings last December. A new review said the ratings are justified.
BISMARCK, N.D. (AP) — A national ratings agency said the state-owned Bank of North Dakota is in great shape.
Standard & Poor’s raised the bank’s credit ratings last December. A new review said the ratings are justified.
It said the bank’s capital reserves and earnings are strong. Standard & Poor’s said the ratings could decline if the state’s economy weakens, but it said North Dakota’s economic prospects are good right now.
Gov. Jack Dalrymple is chairman of the North Dakota Industrial Commission. The commission is the bank’s board of directors.
Dalrymple said the report reflects “the growth and prosperity we are experiencing throughout the state.”
North Dakota has the nation’s lowest unemployment rate of less than 3 percent. The state treasury is expecting a general fund surplus next year of $1.6 billion.
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