Moody’s issues ‘credit positive’ outlook for Oklahoma
The Associated Press - April 10, 2018 12:53 pm
OKLAHOMA CITY (AP) – One of the nation’s top rating agencies is issuing Oklahoma a “credit positive” report following approval of an estimated $523 million in tax increases.
The report by Moody’s Investor Services comes five months after it issued a “credit negative” warning as the Legislature at the time was unable to close a $215 million hole in the state budget, but doesn’t affect the state’s credit rating.
Moody’s said passing tax increases shows that under certain circumstances – in this case a teacher strike – state lawmakers can reach consensus on fiscal challenges.
State Treasurer Ken Miller noted the Moody’s report and said passage of the tax bills to increase revenue is positive, but that more needs to be done to address what he calls “other pressing needs” that include public health and transportation.