Gov. John Bel Edwards issued a statement today about Moody’s upgrading Louisiana’s issuer rating and revising its outlook to stable.
Gov. Edwards said:
“Moody’s most recent upgrade is yet another step in the right direction for Louisiana’s financial outlook. When I came into office, we were facing a huge fiscal cliff and unstable finances. By working together with the Legislature, we’ve been able to turn things around. We now have surpluses instead of deficits, we’re investing again in education and infrastructure and we are no longer relying on one-time money for recurring expenditures. Between the pandemic and natural disasters, nothing we have done over the past several years has been easy, but our commitment to strong financial management is paying dividends for Louisiana.”
In upgrading the rating, Moody’s wrote “The upgrade to Louisiana's issuer rating reflects the significant progress the state has made restoring its financial reserves and liquidity in recent years by structurally aligning revenue and spending.”
Click here to read the press release from Moody’s Investors Service.