(CONCORD) The nation’s three leading credit rating agencies have kept New Hampshire’s bond rating above average and stable for today’s sale of $100 million in bonds to cover capital projects. State Treasurer Catherine Provencher is putting the bonds into the market today as the state’s annual General Obligation Bond Sale.

Unlike Turnpike Bonds issued earlier this year, General Obligation Bonds are paid back the state’s General Fund, and taxpayers are liable for any shortfall. Turnpike Bonds are secured solely by future toll revenues.

Provencher says today’s bond sale will fund large projects designed to be used over the next several decades.

“Bond proceeds will be used for a wide variety of capital improvement projects previously authorized by the Legislature,” Provencher explains. “A sampling of these projects includes, but is not limited to, community college and university system projects, various repairs to state owned buildings, complete rehab of an old State building to provide new space for Department of Employment Security, and new Liquor Store.”

Typically, the State of New Hampshire issues new debt for construction projects once a year, prompting bond rating agencies to update their outlook on the state’s finances and ability to repay the bonds. The there largest rating agencies have kept the Granite State’s rating above average and stable, Moody’s at Aa1, Fitch at AA+, and Standard and Poor’s at AA.

Provencher says that bids are due by 11am today, and that her office may be able to publish the bond issues results as early as this afternoon.