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June 2, 2016

Moody’s, S&P affirm Maine’s credit ratings

By Staff

Moody’s Investors Service and Standard & Poor’s Ratings Services have both affirmed their credit ratings of Maine’s general obligation debt.

Moody’s affirmed both its “Aa2” rating and stable outlook on Maine’s debt, while S&P affirmed its “AA” rating and stable outlook. As part of its report, Moody’s cited the state’s stable economy, steady revenue growth and “management decisions” that have led to improving liquidity, according to a release by the Maine Department of Administrative and Financial Services

“I have worked tirelessly during my first five years in office to bring significant structural improvements to state finances,” Gov. Paul LePage said in a statement about the ratings. “The ratings from both Moody’s and S&P show that the efforts of our administration are being recognized throughout the country. From repaying our hospitals to reforming our public pension system, every effort we can make to strengthen Maine’s fiscal position makes a difference.”

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