Moody’s issues ‘credit negative’ outlook for Oklahoma

The Associated Press - November 6, 2017 2:17 pm

OKLAHOMA CITY (AP) – One of the nation’s top rating agencies is issuing Oklahoma a “credit negative” warning amid the state Legislature’s inability to close a $215 million hole in its budget for the current fiscal year.

Moody’s Investor Service issued the credit outlook for Oklahoma Monday in its latest credit bulletin on U.S. public finance.

The rating agency noted that while the estimated budget gap is only 4 percent of general fund spending, it is meaningful. It pointed specifically to the legislative budget impasse that has stretched on for nearly six weeks.

Oklahoma’s GOP governor and Republican-controlled House and Senate have not been able to reach an agreement on any long-term revenue measures. The agency also warns that using one-time revenue sources will make future Oklahoma budgets more difficult.

 

Latest Stories

Lake Ponca Trail Project Progressing

Work is progressing on the Lake Ponca Trail project. The entire project will consist of approximately...

Luttrell Appointed to National Committee

OKLAHOMA CITY – Rep. Ken Luttrell, R-Ponca City, has been appointed to serve as vice chairman of...

Public Asked for Input on 25-year Trans Plan

Public asked to give additional input, take survey on future transportation priorities The Oklahoma Department of...