Pennsylvania Outlook Cut to Negative by Moody’s on Stalemate

Updated on
  • Outlook change affects $10.9 billion in general obligations
  • Budget dispute over tax increases, state pension funding

The outlook on Pennsylvania’s credit rating was dropped to negative from stable by Moody’s Investors Service, which cited a budget stalemate that has lasted for more than 100 days and led investors to demand higher yields to hold the state’s bonds.

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