TOPEKA, Kan. (AP) - An international rating agency has revised its credit outlook for Kansas to negative from stable because of its ongoing budget problems.
Tuesday's announcement from Moody's Investors Service came a day after lawmakers approved a plan leaving most of the work of balancing the budget through June 2017 to Gov. Sam Brownback.
Even as Moody's changed its outlook, it reaffirmed its Aa2 rating for Kansas for issuing bonds.
Its report cited the state's problems in balancing its budget since lawmakers slashed personal income taxes in 2012 and 2013 at Brownback's urging to help stimulate the economy.
Standard and Poor's Rating Services last week put Kansas on a "credit watch."
The Lawrence Journal World reports Brownback told reporters Tuesday that Kansas faces financial strains because of slumps in agriculture and energy production.
© Associated Press
MOST VIEWED STORIES
Holton man killed in Jackson Co crash
Morrill pair arrested on drug, child endangerment charges
Cold case investigation leads to Holton warrant
Effingham owner regains truck following theft, arrest
Horton City Clerk's resignation accepted Monday
Local residents avoid injury in chain reaction crash
Former Kickapoo Tribal chairman arrested
90 mph+ downburst winds blamed for Thursday damage
Winchester native named as Amberwell CEO
Wamego man sentenced in second fentanyl-related death
Mayetta pair arrested on meth, child endangerment charges
Stolen trailer, 4-wheeler, recovered in Atchison
Holton property search concludes with arrest
Juveniles face charges following Atchison break-in
Atchison Co's Oswald named honorary bailiff for KS Court
Two arrested following Friday Jackson Co traffic stop
McLouth man injured in Monday wreck
No injuries in early Sunday morning house fire in Falls City
LATEST STORIES
KS prepares for severe weekend weather
Richardson County Board approves pay raise for dispatchers
NPPD urges farmers to be safe around power lines
Arbor Day proclaimed in Atchison
Former AG Schmidt running for KS' 2nd Congressional District
Doniphan Co Commission approves overlay projects
Holton property search concludes with arrest
Former Kickapoo Tribal chairman arrested