COLUMBUS, Ohio (AP) - A major ratings agency has given Ohio's credit rating a negative outlook, partially because of decisions made in the latest state budget.
Moody's Investors Service cited the state's decisions to delay debt payments until future years and rely on revenue from expanded gambling that is being challenged in lawsuits as factors in its decision earlier this week.
The agency also cited Ohio's deteriorating economy and revenue picture. In June, Moody's dropped Ohio from the second highest rating to the third highest, and gave the state a stable outlook. The latest change in outlooks suggests Ohio's rating is in danger of beingdropped again.