Today, Gov. John Bel Edwards released the following statement on Moody’s Investors Service announcing Louisiana’s credit rating outlook has improved from stable to positive.
“This is incredible news from Moody’s and proof that by closing the $2 billion shortfall and stabilizing our budget we have made significant improvements in the financial health of our state,” said Gov. Edwards. “People are taking home more in their paychecks, we have the lowest unemployment rate in more than a decade and the highest GDP in our state’s history. In addition, we have turned our deficit into surpluses and as a result, we are building up the Rainy Day Fund and paying down our debts. This is good news for our people and our state. We appreciate that Wall Street is recognizing the progress we’re making and are hopeful that as our economy continues to grow and strengthen this will ultimately lead to an upgrade in our overall credit rating.”
The Moody's press release can be found here.