Rating agency upgrades economic outlook for Oklahoma City
OKLAHOMA CITY (AP) — One of the nation’s top rating services is upgrading its economic outlook for Oklahoma City from negative to stable, citing the city’s maintenance of a high level of reserves.
Moody’s Investors Service also recently affirmed the city’s ratings for other financial metrics.
In its report released Wednesday, Moody’s said a key general obligation rating reflects a “large and stable tax base” in the city that is supported by diverse governmental agencies and several energy sector corporations. It also noted the city’s economy remained relatively unharmed even after oil prices plunged in 2014.
The rating company also has upgraded its economic outlook for the state in recent months, citing a stabilization of the state’s finances as a result of revenue growth.