The independent financial market research group, Standard and Poor's, has awarded Kansas with an AA+ rating; similarly Moody's has awarded Kansas with an AA1, signaling that Kansas has handled itself well in the face of revenue shortfalls and budget challenges.
"This is great news for Kansas as we continue to address the challenges of the national recession," said Governor Mark Parkinson. "My administration has worked diligently in monitoring the fiscal situation in Kansas to ensure we maintain a balanced budget as well as looking towards the future. The ratings from S&P and Moody's recognize the fiscal responsibility we've taken on in managing the State."
Moody's report specifically mentioned the state's strong management as well as featuring most fiscal best practices and a high level of institutional financial flexibility. The report also states, "The outlook for the state of Kansas is stable, reflecting expectations that the state will take appropriate actions to manage the financial strains caused by its increasing economic and revenue challenges."
"I am glad to see that our hard work has paid off," continued Parkinson. "With the latest revenue projections indicating our budget situation remains manageable, and this news from S&P and Moody's, I am confident now more than ever, that Kansas is on the right track."