Oklahoma's credit outlook boosted

Moody' s Investors Service has upgraded Oklahoma' s credit outlook from stable to positive, officials announced Wednesday.

State Treasurer Randy McDaniel also announced the rating agency concurrently affirmed Oklahoma's credit rating of Aa2.

McDaniel stated Moody' s actions followed a meeting last month between its rating analysts and state leaders that covered updates on Oklahoma's economy, credit trends and policy priorities.

“The state's improved fiscal condition is being recognized nationally. Our efforts to increase reserves, eliminate structural deficits, improve pension finance sand diversify the state' s economy are working,” McDaniel said .“Our financial house is in order, and we are poised to strengthen our position in the months and years ahead.”

Moody's attributed its upgrade to its expectation that that strong fiscal management and a commitment to increasing reserves would continue as Oklahoma seeks to fulfill its goal of strengthening i ts preparedness for the next cyclical economic downturn.

“We also expect the state's debt and pension burden will continue to run well below the 50- state median ,” a statement from the service read.

While the state's bond rating—two notch es bel ow t he best possi - ble — was not changed, Moody' s listed f acto rs that could lead to a future rating upgrade that included increases in financial reserves, enhancement soft he state's fiscal flexibility and further economic diversification.