Rating agency upgrades Oklahoma’s economic outlook

News
This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

OKLAHOMA CITY (AP) – One of the nation’s top rating agencies is upgrading the state’s economic outlook from “stable” to “positive” due in large part to the 2018 passage of tax hikes that have resulted in budget surpluses and increased reserves.

Moody’s Investors Service announced Wednesday it was also affirming the state’s Aa2 rating, the agency’s third-highest rating.

The agency’s positive outlook indicates it expects strong fiscal management and a commitment to increasing reserves. The agency also cited the state’s relatively low state debt and pension burden.

Oklahoma’s new Gov. Kevin Stitt has said he wants the state to set aside $2 billion in reserves to help better prepare the state for its next economic downturn.

Latest News

More News

National News

More National

Washington D.C.

More Washington DC

Your Local Election HQ

More Your Local Election HQ

Latest News

More News

Popular

KFOR Podcasts

More Podcasts

Follow @KFOR on Twitter