Opinion Columns & Blogs

Credit rating downgrade wasn’t a surprise

It wasn’t a surprise that S&P Global Ratings downgraded Kansas’ credit rating this week (its second downgrade in two years). S&P had placed Kansas on “credit watch” in April, saying there was “at least a one-in-two possibility” of lowering the state’s rating. The state later had to beg and borrow its way through the end of the fiscal year June 30, and the current year’s budget problems could be even worse. In May, Moody’s dropped Kansas’ credit outlook from “stable” to “negative.” So don’t be surprised if Moody’s drops its rating soon. – Phillip Brownlee