Moody's lifts Maine's outlook to 'stable'

AUGUSTA, Maine (AP) -- A major credit-rating agency has raised Maine's outlook from negative to stable.

Republican Gov. Paul LePage on Thursday touted the announcement by Moody's Investors Service as a reflection of accomplishments achieved under his leadership. LePage, who is running for re-election, also noted several improvements — paying off hospital debt and enacting pension reform — came when the GOP controlled both the Blaine House and State House.

Last year, Moody's Investors Service had revised its ratings outlook to negative.

The state's credit rating remains the same at Aa2, which is near the top but below average for states.

Moody's said the rating reflects modest revenue improvements, conservative debt structures and significant pension reforms but said concerns remain about pension liability, slow economic growth and available funds.