More results found.
No results match your search term, but we're constantly adding new issuers to the BondLink platform. Looking to learn more?
Learn about Rhode Island Investor Relations, including Featured News and The Team.
The smallest state of the union, Rhode Island, also has the longest official name of any of the states: "State of Rhode Island and Providence Plantations." The state is one of the most densely populated and heavily industrialized for its size. For a state that is only 37 miles wide and 48 miles long, it is notable that its shoreline on Narragansett Bay in the Atlantic Ocean runs for 400 miles.
Rhode Island is known for sandy shores and seaside Colonial towns. It's home to several large cities, including Newport, which is famed for sailing and Gilded Age mansions, such as The Breakers. Providence, its capital, is home to Brown University, Roger Williams Park, Waterplace Park and Riverwalk, with the famed WaterFire art installation.
Treasurer partners with local artists to highlight the opportunity to invest in school improvements, clean water and sustainable infrastructure
During a visit to the construction site of the future East Providence High School today Treasurer Seth Magaziner announced new measures to make it easier for Rhode Islanders to invest in state bonds and the launch of a campaign to encourage Rhode Islanders to invest in bond-funded school construction and environmental projects.
The announcement was made ahead of the state’s plans to offer $153 million in bonds to support school construction, clean water and other infrastructure projects throughout the state. Projects being funded include new high schools in East Providence and Lincoln, renovations to Smithfield Elementary School, the dredging the Providence River, and funding for the Clean Water State Revolving Fund, as well as more than a dozen other voter-approved initiatives across the state.
“Beginning next week, Rhode Islanders will have a chance to make our state stronger by investing in Rhode Island Bonds,” said Treasurer Magaziner. “By investing in Rhode Island Bonds, you will play a direct role in improving our state’s schools and natural environment, while also helping to keep more of the interest we pay to bondholders right here in Rhode Island.”
The Treasurer partnered with local artists to raise awareness about the opportunity to buy Rhode Island bonds and the projects they will fund.
“I appreciate the opportunity Treasurer Magaziner has given me to be a part of this campaign. I was inspired by the New Deal era posters that showcased the grit and determination of working people,” said local artist Simon Allen. “Bringing that style into the 21st century and benefiting the state where I live is very meaningful. I’m proud to know that these posters and will help raise awareness and the spotlight will help fund infrastructure projects across Rhode Island.”
Beginning Tuesday, November 26, 2019, Rhode Islanders will be able to access information about the upcoming bond sale, the artwork, projects being supported and information for investors at www.RhodeIslandBonds.com. Bonds will be sold the week of December 10, 2019.
Rhode Island's pension system continues to improve its relative investment performance when compared to similarly sized public pension funds, outperforming 78% of its peers in the fiscal year ending on June 30, 2019.
Leading market intelligence firm, InvMetrics, found that Rhode Island performed in the top quartile among public pension funds over $1 billion, according to a report from New England Pension Consulting, which serves as a consultant to pension plans throughout the country, including Rhode Island.
Rhode Island's performance continues to steadily improve compared to its peers, marking the second consecutive fiscal year in which the plan outperformed the median in its peer group. This recent success stands in contrast to historical performance, in which Rhode Island often lagged its peers. The system's relative performance ranked in the sixty-sixth percentile among peers for a ten-year period, while improving to fifty-seventh in a five-year period, and twenty-second over a one-year period.
Under Treasurer Magaziner's leadership, the state adopted the 'Back to Basics' investment strategy, which is designed to provide long-term growth over time and stability when markets are challenging. Since implementation of Back to Basics began in September 2016, the fund has earned $1.8 billion from investments as of July 31, 2019.
Detailed information about the fund, including the 'Back to Basics' investment strategy, performance, and detailed information about its managers are published online as part of Treasurer Magaziner's "Transparent Treasury" initiative.
Rhode Island General Treasurer Seth Magaziner today released the 2019 Rhode Island Debt Affordability Study, which provides comprehensive information on the debt, pension and post-employment liabilities of the state, municipalities and quasi-public agencies of Rhode Island.
"Rhode Island must continue its commitment to making critical investments in infrastructure projects that create good jobs that protect the health and wellness of our residents," said Treasurer Magaziner. "We must also ensure that we borrow within our means."
The report finds that the liabilities of the State and most Rhode Island municipalities are generally within acceptable levels. However, the total liabilities of seven municipalities are in excess of recommended limits and warrant heightened attention from policymakers in those communities.
This Rhode Island Debt Affordability Study is the second to be released since Treasurer Magaziner led reforms to the state's debt management practices. The previous iteration of the Rhode Island Debt Affordability Study in 2017 received national recognition for being among the most comprehensive studies of its kind ever conducted by a state. The 2019 edition of the study goes further, by making Rhode Island the first state to formally incorporate OPEB (Other Post-Employment Benefits) into its affordability recommendations.
The findings and guidance provided in this study are a part of the ongoing work of the Public Finance Management Board, chaired by Treasurer Magaziner, to provide information that can help Rhode Island communities effectively manage their debt.