HELENA - Montana continues to defy national economic trends as Standard & Poor's Rating Services upgraded the state's general obligation bonds. This is the third time since 2007 that Montana has received an upgrade because of sound fiscal management. The state was upgraded from AA- to AA.

According to Governor Brian Schweitzer the rating reflects the state's improved financial performance. "We balanced the budget and put more money in the bank," Schweitzer said. "Montana has the largest budget surplus in the history of the state. More new jobs at higher wages than any time in the history of the state. And of course energy prices are up and energy jobs. More electricity production, more oil production."

The new rating means that Montana will pay lower interest costs on debt. That's an estimated savings of up to $3.6 million for Montana taxpayers.