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Wednesday, Aug 21
Moody's upgrades outlook on U.S. states
- Moody's has lifted its collective outlook on U.S. states to stable from negative, the first time the ratings agency has improved its view of states since the financial crisis.
- "Improving labor and housing markets have boosted consumer confidence, and strong stock-market performance has further improved state revenues," Moody's analyst Baye Larsen explained.
- Credit quality is high, with 30 states holding the two highest ratings, AAA or or Aa1. Due to its massive pension gap, Illinois has the lowest rating among states, A3.
- The local government outlook remains negative. (PR)
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