Drop in bond ratings for Oklahoma may raise borrowing costs
July 14, 2017
OKLAHOMA CITY (AP) — Oklahoma's drop in bond ratings may increase the state's borrowing costs for several major projects.
Credit rating services agency Fitch Ratings announced Tuesday that it's lowering Oklahoma's issuer default rating from AA+ to AA, The Oklahoman (http://bit.ly/2t7o8Z1 ) reported.
Economic and political factors contributed to the downgrade, the agency said in its report.
"The state has been unable to address its fiscal challenges with structural and recurring measures and revenue collections continue to reflect subdued energy prices," the report said.
The report noted t...