Delaware
Governor Carney Announces Delaware’s General Obligation Bonds Again Earn Triple-A Ratings and Attract Excellent Pricing – State of Delaware News
WILMINGTON, Del. – Governor Carney on Tuesday announced that the State of Delaware has once again received the highest possible AAA/Aaa ratings from the nation’s top rating services.
The State of Delaware received competitive bids on Tuesday for its upcoming sale of $359 million of General Obligation Bonds. The State’s bonds carry the highest possible ratings assigned by the nation’s major rating services – Fitch, Moody’s, KBRA and S&P Global Ratings – contributing to excellent results for the State and Delaware’s taxpayers.
“Delawareans deserve a state government that responsibly manages taxpayer dollars,” said Governor John Carney. “I was proud to work with then-Governor Tom Carper in the 1990s when Delaware first achieved a triple-A rating from the major bond rating agencies. Over the last quarter century — through good times and bad — our General Assembly and Governors worked hard to sustain our commitment to economic growth and responsible financial stewardship. I’m confident this will remain a top priority for Delaware’s leaders.”
Ratings are assigned based on criteria that include the State’s financial performance and management, overall debt load, and approach to long-term issues ranging from financial obligations to economic development trends. The highest ratings, Aaa/AAA, are granted to states that are best managed and prepared to meet debt obligations during periods of recession or fiscal stress. The higher a state’s credit rating, the lower its cost to repay bonds.
“Bond buyers continue to show a strong appetite for investing in Delaware. Despite a significantly higher interest rate environment today than just a couple years ago, today’s bids were very competitive,” said Secretary of Finance Rick Geisenberger. “The State’s total interest costs on its new bonds is 3.51%. That’s an increase of about 40 basis points versus last year’s bonds, consistent with Federal Reserve Policy moves over the last year. State taxpayers also realized $6.1 million in savings by refinancing $77 million of existing debt.”
All three rating reports related to the upcoming sale noted the importance of the State’s responsible budget practices and debt management practices. Fitch stressed the “proactive management and institutionalized protections designed to ensure surplus operations.” S&P’s report commented, “the State limits tax-supported debt…and adheres to clearly defined affordability parameters and rapid amortization.” Moody’s focused their comments on “strong limits on appropriations … while allocating surplus funds to non-recurring projects.” All agencies continue to regard the ratings as “stable” underpinned by the state’s strong reserves and continued economic growth.
“Delaware’s financial condition has never been stronger,” said Treasurer Colleen Davis. “The Delaware Treasury in collaboration with the Cash Management Policy Board continues to monitor strong liquidity and reserves. This lowers the State’s borrowing costs and increases interest income available for critical investments in schools, public safety, and our quality of life.”
Proceeds of the sale will fund a portion of the State’s capital program as well as refund previous bonds to realize debt service savings. Closing on the sale and receipt of bond proceeds is scheduled for May 15, 2024.
Rating reports can be found at the Delaware Department of Finance’s website.
Related Topics: general obligation bonds, triple-A rating
Keep up to date by receiving a daily digest email, around noon, of current news release posts from state agencies on news.delaware.gov.
Here you can subscribe to future news updates.
WILMINGTON, Del. – Governor Carney on Tuesday announced that the State of Delaware has once again received the highest possible AAA/Aaa ratings from the nation’s top rating services.
The State of Delaware received competitive bids on Tuesday for its upcoming sale of $359 million of General Obligation Bonds. The State’s bonds carry the highest possible ratings assigned by the nation’s major rating services – Fitch, Moody’s, KBRA and S&P Global Ratings – contributing to excellent results for the State and Delaware’s taxpayers.
“Delawareans deserve a state government that responsibly manages taxpayer dollars,” said Governor John Carney. “I was proud to work with then-Governor Tom Carper in the 1990s when Delaware first achieved a triple-A rating from the major bond rating agencies. Over the last quarter century — through good times and bad — our General Assembly and Governors worked hard to sustain our commitment to economic growth and responsible financial stewardship. I’m confident this will remain a top priority for Delaware’s leaders.”
Ratings are assigned based on criteria that include the State’s financial performance and management, overall debt load, and approach to long-term issues ranging from financial obligations to economic development trends. The highest ratings, Aaa/AAA, are granted to states that are best managed and prepared to meet debt obligations during periods of recession or fiscal stress. The higher a state’s credit rating, the lower its cost to repay bonds.
“Bond buyers continue to show a strong appetite for investing in Delaware. Despite a significantly higher interest rate environment today than just a couple years ago, today’s bids were very competitive,” said Secretary of Finance Rick Geisenberger. “The State’s total interest costs on its new bonds is 3.51%. That’s an increase of about 40 basis points versus last year’s bonds, consistent with Federal Reserve Policy moves over the last year. State taxpayers also realized $6.1 million in savings by refinancing $77 million of existing debt.”
All three rating reports related to the upcoming sale noted the importance of the State’s responsible budget practices and debt management practices. Fitch stressed the “proactive management and institutionalized protections designed to ensure surplus operations.” S&P’s report commented, “the State limits tax-supported debt…and adheres to clearly defined affordability parameters and rapid amortization.” Moody’s focused their comments on “strong limits on appropriations … while allocating surplus funds to non-recurring projects.” All agencies continue to regard the ratings as “stable” underpinned by the state’s strong reserves and continued economic growth.
“Delaware’s financial condition has never been stronger,” said Treasurer Colleen Davis. “The Delaware Treasury in collaboration with the Cash Management Policy Board continues to monitor strong liquidity and reserves. This lowers the State’s borrowing costs and increases interest income available for critical investments in schools, public safety, and our quality of life.”
Proceeds of the sale will fund a portion of the State’s capital program as well as refund previous bonds to realize debt service savings. Closing on the sale and receipt of bond proceeds is scheduled for May 15, 2024.
Rating reports can be found at the Delaware Department of Finance’s website.
Related Topics: general obligation bonds, triple-A rating
Keep up to date by receiving a daily digest email, around noon, of current news release posts from state agencies on news.delaware.gov.
Here you can subscribe to future news updates.
The widow of a Delaware state trooper killed in the line of duty last year has launched a foundation in his memory to support families of law enforcement officers.
Two months ago, Lauren Snook’s world looked different. Her husband, Corporal Grade One Matthew T. “Ty” Snook, a devoted father, husband, and friend, filled their house with laughter and love. Then in an instant, everything changed.
“He just went to work one day and didn’t get to come home,” Lauren told NBC10.
Two days before Christmas, Cpl/1 Snook, a 10-year veteran, was killed while working an overtime shift at the DMV in Wilmington, Delaware.
Lauren said that she was at their home, making salt dough ornaments in the kitchen with Letty, their 15-month-old daughter.
“When the two Tahoes pulled up out in front of my house. You know it, you see it in movies, you hear about it, and I knew. But I didn’t want to, and it took about 7 times for them to tell me he’s gone,” Lauren shared.
Lauren said the life they built together is now marked by a painful reality, learning to live without him. She clings to the memories and a bear with his uniform that Letty calls “Dada Bear.”
“On a quiet day, it’s totally ugly. I’ll grab his clothes that no longer have his scent, wear them, hold them, cry in his closet, grab his deodorant, dryer sheets, his cologne and make this scent cocktail, and I’m like bring me Ty back for a second and I’ll look at pictures, and then I look over at that cute little girl and see her smile and immediately see him because they share the same smile,” said Lauren.
Lauren explains that the grief isn’t just in the big moments; it’s in the quiet ones, too. She said Letty can feel it also.
“She knows. She waits by the baby gate at the top of the stairs. She grabs his shoes and sits in them so she knows. Before she knows her name,” Lauren said.
Lauren said that following Cpl/1 Snook’s death, she leaned on her faith and the support from others to help her through it.
“People have given so much of themselves, their heart to us, it’s a gift I know I can never repay, but it’s forever touched and shaped who I am,” said Lauren.
Through heartbreak, Lauren is choosing to turn pain into purpose by starting the “Ty Snook Foundation,” a community for families and children of law enforcement officers navigating life after losing a parent.
Lauren said, “Headlines fade, people go back to real life, but this is going to be Letty’s forever, it’s forever going to shape who she is, and I’m a firm believer that the community shaped us, and she needs her own community to talk about loss.”
GEORGETOWN, Del. – The Delaware Department of Correction is seeking the public’s help locating an escaped offender.
54-year-old Adam Blades reportedly walked away from the Sussex Community Corrections Center in Georgetown after failing to return from an approved work pass.
The offender’s whereabouts are unknown and unauthorized at this time.
Community Corrections Centers are Level 4 facilities where the Department of Correction manages offenders who are transitioning back into the community.
These centers are not secured like Level 5 prisons, as offenders are permitted to leave the facility to go to work, seek jobs, or attend approved treatment sessions.
Anyone with information on Blades is asked to call 800-542-9524 or their local police department.
Delaware
Delaware Officials Highlight DTRN360, Innovative Behavioral Health Care Coordination Platform – State of Delaware News
DOVER – Leaders from the Delaware Department of Health and Social Services (DHSS), behavioral health providers, and health care partners gathered Thursday at Dover Behavioral Health System to highlight DTRN360, an innovative care coordination platform designed to strengthen collaboration across Delaware’s behavioral health system and improve care for individuals living with mental health conditions and substance use disorder.
Developed by DHSS’ Division of Substance Abuse and Mental Health (DSAMH), DTRN360 connects behavioral health providers across the state and gives them access to real-time information to better coordinate care as individuals move between crisis services, hospitals, outpatient treatment, and community-based supports.
The system is the first of its kind nationally and currently supports more than 14,000 client care journeys with nearly 600 registered staff users across Delaware’s behavioral health system. Participating organizations include DSAMH programs such as Mobile Crisis and PROMISE teams, as well as contracted providers including Dover Behavioral Health System, Rockford Center, Sun Behavioral Health, Recovery Innovation crisis stabilization centers, Northeast Treatment Centers, Conexio Care, Horizon House, and Resources for Human Development.
By bringing critical information together in one place, DTRN360 helps providers close long-standing gaps in behavioral health coordination, improving communication across organizations, strengthening care transitions, and ensuring individuals receive the right support at the right time.
“Delawareans living with mental health conditions, substance use disorder, and complex social needs depend on a system that is coordinated, responsive, and prepared to meet them where they are,” said DHSS Cabinet Secretary Christen Linke Young. “DTRN360 represents the kind of innovation that strengthens connections across our behavioral health system and equips providers with better tools and information to build a more responsive, connected system of care.”
DTRN360 was built by DSAMH with strategic design and implementation support from HEALTHe Insights. The platform incorporates technology from Bamboo Health and FindHelp to unify treatment referrals and connect individuals to community-based services that address social determinants of health.
The platform was developed through more than 200 stakeholder interviews with frontline clinicians, crisis responders, emergency department staff, justice partners, and community organizations across Delaware.
Today, DTRN360 integrates multiple data sources into a single workflow, including hospital admission and discharge alerts, crisis response information, prescription monitoring data, treatment referrals, and social services connections. Through integration with the Delaware Health Information Network (DHIN), providers can view a more comprehensive picture of an individual’s care history and coordinate next steps in real time.
Michelle Singletary-Twyman, RN, Director of Operations for DSAMH, said the platform represents a major step forward in addressing fragmentation that has historically existed across the behavioral health system.
“Fragmentation in behavioral health is more than inconvenient, it can be dangerous,” Singletary-Twyman said. “DTRN360 was designed to close those gaps by bringing critical information together in one place so providers can see the full picture of a person’s care journey and intervene earlier when support is needed.”
For providers delivering care on the front lines, access to better information helps improve coordination and discharge planning from the very beginning of treatment.
“One of the challenges in inpatient behavioral health is understanding the care someone may already be receiving when they arrive during a crisis,” said Lindsey Huttie, Dover Behavioral Health Director of Business Development. “DTRN360 gives us clearer insight into a person’s care across the system and helps us coordinate more effectively with community partners to support safer transitions and better outcomes.”
To help address behavioral health needs of Delawareans, DHSS has several ways for individuals or their family members to connect:
- Call the 24/7 Delaware Hope Line at 1-833-9-HOPEDE or 1-833-946-7333 – a single point of contact where callers can connect to a variety of resources and information, including support from clinicians and peer specialists plus crisis assistance.
- Stop by one of DHSS’ Bridge Clinics for an in-person assessment.
- Visit com to find out which treatment providers are located near you.
- Visit com, DHSS’ one-stop website where Delawareans can search for treatment services and resources in Delaware or nearby states.
- Call 988 if the individual is in crisis and needs immediate support.
- Call 911 if someone has overdosed and needs emergency medical attention.
- Learn where to find Narcan training, get the medication through the mail, and download the OpiRescueDE App
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