Fitch Ratings has improved the State of Michigan’s general obligation bonds AA credit rating from a “stable outlook” to a “positive outlook.” In the announcement, Fitch noted the state’s success in achieving balanced budgets and the expectation that Michigan’s improved fiscal and budgetary resilience will be sustained. Additionally, Fitch believes the state is well-positioned to benefit from a return to economic growth following the recession caused by the COVID-19 pandemic.
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