Moody's rates Oklahoma "Credit Negative"

Moody's rates Oklahoma "Credit Negative"

Posted by Bob Sands on

One of the nation's main debt rating services is maintaining Oklahoma's credit rating of Aa2, but notes the state's outlook as "credit negative" because of continued low prices and production of oil and natural gas.
    
Oklahoma Treasurer Ken Miller on Monday noted the outlook by Moody's Investor's Service in his monthly economic report.
    
Moody's late last month issued the new credit outlook just days after Oklahoma revised its revenue projections downward for the current fiscal year and estimated a 13 percent decline for fiscal year 2017.
    
In an analysis of Oklahoma's credit characteristics compared to other energy states, Moody's notes that Oklahoma is below average in its ability to raise revenue, but that its general fund is less reliant on oil revenues than other energy states.

(Copyright 2016 The Associated Press. All rights reserved.)

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