© 2021 Public Radio Tulsa
800 South Tucker Drive
Tulsa, OK 74104
(918) 631-2577

A listener-supported service of The University of Tulsa
PRT Header Color
classical 88.7 | public radio 89.5
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
Local & Regional

S&P Lowers State Bond Rating

state_capitol__2_.jpg
KWGS News File Photo
/

 

One of the nation's major ratings agencies is downgrading Oklahoma's bond and appropriation debt rating because of continued weak revenue collections and a revenue failure that's led to more budget cuts to state programs.

S&P Global Ratings issued a report on Wednesday that lowered the state's general obligation bond debt rating from AA+ to AA. The agency also lowered its rating on the state's appropriation debt from AA to AA-. The ratings agency kept its outlook on the state's financial picture as stable, but warned Oklahoma's reliance on one-time sources of revenue to balance the budget makes the state vulnerable to further revenue declines.

The decision amounts to a lowering of the state's credit rating and could lead to higher interest rates on the state's bond debt.