For the 15th year in a row, Standard & Poor’s Global Ratings has rated the New Mexico Local Government Investment Pool (LGIP) “AAAm.”
According to S&P, “A fund rated ‘AAAm’ demonstrates an extremely strong capacity to maintain principal stability and to limit exposure to principal losses due to credit risk. ‘AAAm’ is the highest principal stability fund rating assigned by S&P Global Ratings.”
The New Mexico LGIP was created to allow municipal, city, county, tribal, educational, and quasi-governmental bodies to voluntarily remit money to the State Treasurer’s Office (STO). STO provides professional money management to these bodies on a pooled basis. When making investment decisions, the LGIP portfolio managers observe the priorities of safety, maintenance of liquidity needs, and maximum return on investments, in that order.
For S&P’s most recent profile of the New Mexico LGIP, click here.
To read S&P’s reaffirmation letter, click here.
To participate in the LGIP or receive more information, contact Felicia Anaya at 505.955.1142 or nmsto.lgip@state.nm.us.