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State Bond Commission adopts 2025 net state tax-supported debt report; presentation outlines debt positions and rating context
Summary
Jessica Munoz, the commission’s state debt officer, presented the 2025 net state tax-supported debt report showing Louisiana at about 4.2% of its constitutional debt limit, projections for issuance scenarios and a review of credit ratings. The commission adopted the report by voice vote.
The State Bond Commission on Jan. 16 adopted its annual 2025 net state tax-supported debt report after a presentation by Jessica Munoz, the commission’s state debt officer, who reviewed current debt levels, several issuance scenarios and the state’s credit-rating context.
The report covers debt classified as net state tax-supported debt (NSDSD) and non-NSDSD through Dec. 31, 2024, and projects future fiscal years. Munoz told commissioners Louisiana’s NSDSD debt-service-to-revenue limit — a constitutional cap under which debt service cannot exceed 6% of forecast revenues — stood at about 4.2% for fiscal year 2025 (down slightly from 4.3% in fiscal year 2024). She said one “maximum issuance” scenario would permit up to $795,000,000 within that limit, up from $750,000,000 in the prior report.
Munoz highlighted headline amounts: as of Dec.…
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