Moody’s issues ‘credit positive’ outlook for Oklahoma
OKLAHOMA CITY (AP) — One of the nation’s top rating agencies is giving Oklahoma a “credit positive” report after the Legislature approved 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 lawmakers at the time were unable to close a $215 million hole in the state budget. The reports don’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.