New Jersey has received multiple credit rating and outlook upgrades from Wall Street's four major rating agencies over the past year.
Moody’s Investors Service on Friday upgraded New Jersey’s credit outlook from stable to positive, noting improvements in the state’s management of reserves and long-term liabilities.
Murphy said Moody’s decision on Friday “is further proof that the steps we’ve taken to right our fiscal ship have led to real progress.” Senate Budget Committee Chairman Paul Sarlo, D-Bergen, said the upgrade “is the productive result of responsible fiscal decisions.” “We put in place the largest surplus in the state’s history, created a debt reduction plan, fully funded the pension system, made strategic infrastructure investments and were careful to avoid fiscal cliffs by funding vital services with sustained spending,” Sarlo said.
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