Louisiana gets favorable review from national credit agency

BATON ROUGE, La. (AP) - A national credit rating agency is giving Louisiana good marks for its improved financial outlook and its work to stabilize the state budget.

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Moody's Investors Service changed Louisiana's credit outlook from "stable" to "positive."

The firm said that's an indication Louisiana could see a rating upgrade in a year or two.

Credit ratings help determine interest rates charged when the state borrows money to finance roadwork and construction projects.

Moody's said Louisiana has improved its financial position by closing budget gaps with ongoing revenue sources, rather than patchwork funds.

The rating agency said the state's economy also has stabilized.

The news comes as Democratic Gov. John Bel Edwards is running for reelection, touting the seven-year tax deal he and lawmakers reached in 2018 to end years of budget uncertainty.

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