On Friday morning, Standard and Poor’s (S&P Global) took Louisiana off of the negative watch list and revised the state’s outlook to stable.
Gov. John Bel Edwards released this statement about the positive change made by the credit rating agency:
We knew it would not take long for the credit rating agencies to take notice of the bipartisan work we did during the last special session to stabilize Louisiana’s budget,” said Gov. Edwards. “Today’s announcement from S&P is further evidence that what we did was right for Louisiana. For too long, our state lacked the stability and predictability we needed, but those days are over. Thanks to the work of a bipartisan group of legislators, we have a stable budget that still allowed us to reduce the tax burden on the people of Louisiana by more than $550 million. We still have a long way to go, but with our economy growing, more people finding work, and our commitment to improve health outcomes and access to education, Louisiana is finally headed in the right direction.