A rating agency has deemed Pennsylvania’s credit stable.
That’s an improvement from several months ago, when the commonwealth received a downgrade from a different agency in the midst of an extended budget impasse.
But it doesn’t mean the fiscal woes are over.
Even though Fitch Ratings’ has taken Pennsylvania off its Rating Watch Negative list, it still has a negative outlook.
Fitch analyst Eric Kim said while the commonwealth has a healthy amount of fiscal flexibility, is has almost no reserves, and recent budgets have included little recurring revenue.