Statement from Governor Hassan on S&P Restoring New Hampshire's Credit Outlook to "Stable"

Press Release

Following the announcement that S&P has restored New Hampshire's credit outlook to "stable," Governor Maggie Hassan today issued the following statement:

"The announcement that S&P has restored New Hampshire's credit outlook to stable is another encouraging sign that our state's financial standing is strong and we are moving in the right direction, reflecting the progress we have made through our bipartisan efforts to responsibly balance our budget and end costly lawsuits that were threatening our state's financial outlook and bond rating. In particular, our agreement with 25 New Hampshire hospitals to settle challenges to the Medicaid Enhancement Tax and the bipartisan legislation to implement it were critical for providing stability to our budget.

"In addition, our unemployment rate remains the eighth-lowest in the country and significantly lower than the national average and we are on pace to end 2014 with the fewest foreclosures in the last six years. Despite these positive indicators of a strengthening economy, we know that there is more progress to be made and that we must continue working across party lines to support job-creating businesses, expand middle class opportunity and keep our economy moving in the right direction."

Last year, Governor Hassan signed the most bipartisan budget in more than a decade. After she carefully managed state agency expenditures and issued preventive and preemptive spending, out-of-state travel and hiring freezes, the State of New Hampshire finished Fiscal Year 2014 with a nearly $20 million surplus. The Governor has also directed state agencies to reduce expenditures in order to ensure a balanced budget for Fiscal Year 2015.

Governor Hassan has also worked with members of both parties to end costly lawsuits that threatened the state's bond rating, bringing people together to replace the outdated women's prison, reach a fair agreement with hospitals to resolve the Medicaid Enhancement Tax issue, and rebuild community mental health services across New Hampshire.

Earlier this year, the Governor worked with legislators from both parties, hospitals and other stakeholders to reach a settlement agreement on the hospitals' challenges to the Medicaid Enhancement Tax, which had been cited as one of the primary reasons when S&P changed the state's credit outlook in April.

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