Fitch Affirms Georgia Fund 1 Prime at AAAmmf
Fitch Ratings kept the top money market fund rating on Georgia Fund 1 Prime, a local government investment pool.
Updated on Nov. 13, 2026 in Saving
Fitch Ratings affirmed the AAAmmf rating of Georgia Fund 1 Prime, the highest rating on its money market fund scale. The fund, which held $1.1 billion in assets as of March 31, 2026, is managed by Federated Investment Counseling and is part of the LGIP Trust administered by the Georgia Office of the State Treasurer.
Why it matters
The rating reflects the fund's credit quality, diversification, maturity limits, liquidity profile and manager capabilities, all of which Fitch reviews for the public-sector investment pool. Fitch said a material and sustained deterioration in credit quality, market risk or liquidity could lead to a downgrade.
Georgia Fund 1 Prime held $1.1 billion as of March 31, 2026, and the fund's weighted average life of 80 days sits under a 120-day limit. Fitch's review does not specify how the fund's asset size compares with prior periods.
The players
Fitch Ratings
Fitch Ratings is a global credit rating agency that assigns ratings to money market funds and other debt and investment products.
Federated Hermes, Inc.
Federated Hermes, Inc. is a Pittsburgh-based investment management firm that reported $884 billion in assets under management as of June 30, 2026.
Georgia Office of the State Treasurer
The Georgia Office of the State Treasurer administers the LGIP Trust, which includes Georgia Fund 1 Prime.
The details
Fitch's AAAmmf rating is the highest on its money market fund scale and reflects the fund's investment guidelines, credit quality, portfolio diversification, maturity parameters, liquidity profile and investment manager capabilities. Georgia Fund 1 Prime operates similarly to a money market fund and is managed by Federated Investment Counseling, a wholly owned subsidiary of Federated Hermes, Inc.
Timeline
March 31, 2026: Georgia Fund 1 Prime held $1.1 billion in assets, and LGIP Trust offerings held combined assets of about $66 billion.
June 30, 2026: Federated Hermes reported $884 billion in assets under management.
Late 2025: State-sponsored local government investment pools across 32 states held $703 billion.
Market Dynamics
Fitch's AAAmmf designation sits at the top of its money market fund scale, and Georgia Fund 1 Prime's affirmation keeps it there. The fund is one of 32 state-sponsored local government investment pools that together held $703 billion at the end of 2025.
Individuals who keep cash in a state-sponsored investment pool can check whether their pool carries a current credit rating and how its liquidity limits are set. The rating affirmation signals that the fund met Fitch's standards for credit quality and liquidity as of this review.
The takeaway
A top rating from an independent agency offers one measure of how a money market-style fund manages credit and liquidity risk. Savers weighing public investment pools can compare such ratings alongside a fund's stated liquidity requirements.
Further reading
For more on how public funds are invested, explore Saving coverage.
Source note: This article includes information reported by Trend.
