COLUMBUS, Ohio (AP) -- Ohio Treasurer Josh Mandel (man-DELL') says STAR Ohio, the state's $4.1 billion investment fund for local governments and school districts, has maintained its AAAm rating from Standard & Poor's.
Mandel says landing the highest possible rating is notable in the current economic climate. STAR Ohio is the seventh largest local government investment pool in the nation. Of 90 such funds that S&P rates, 14 were downgraded in August. Those included funds in California, Florida, Texas, Georgia and Illinois.
The state treasury invests STAR Ohio funds on behalf of 2,786 municipal governments and school districts.
Mandel became treasurer in January. He is also a contender for the Republican nomination of U.S. Senate. The winner of that contest would face incumbent U.S. Sen. Sherrod Brown, a Democrat, in 2012.