Moody’s credit rating agency viewed positively that Kansas met its revenue projections the past three months. If this trend continued, the agency said, it would be “a significant credit positive compared with the state’s years-long track record of consistent revenue underperformance most months.” However, Moody’s also noted that the better revenue performance was likely due to better forecasting (and the fact that estimates were significantly lowered last November), not a better-performing economy. Meanwhile, S&P Global Ratings downgraded the outlook on its credit rating for Kansas from “stable” to “negative.” S&P said the negative outlook reflects weak economic trends and “structural budget pressures.” – Phillip Brownlee
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