The Oregon Lottery has recently been awarded top bond ratings from three nationally accredited agencies. Moody’s ranked the bonds an Aa2 stable rating, while S&P Global and Kroll both gave the Lottery-backed bonds an AAA rating.
Every two years, state legislature in Oregon approves millions of Lottery-backed bonds for improvement works within the state; previous examples have included a channel-deepening project in Coos Bay and support for local youth in crisis within the Klamath Falls area.
The Oregon Lottery website corroborates the organization’s service to the community by saying, “It's not just about the latest games and winning numbers, but also the important places and programs that Lottery proceeds support.”
Money from Lottery-backed bonds must be associated with one of the Lottery’s beneficiaries, which include job creation and economic development. Oregon citizens vote on which projects and programs may receive Lottery funds.
Mike Wells, the Oregon Lottery’s Interim Director, said, “Our ability to recover revenue after the pandemic and post strong sales will allow the state to continue to invest in our communities. We’re proud to have Lottery-bonded projects in all corners of our state.”
Lottery-backed bonds in Oregon have also been used to support and aid the Oregon Coast Aquarium in Newport, Eugene’s downtown Riverfront Park Development, the Woodburn Community Center and the North Plains public works/emergency operations center.
State Treasurer Tobias Read said, “Strong stewardship of financial resources allows us to invest in building stronger and healthier communities for Oregonians over the long run, and that is good for everyone.”
