Christie: Agencies confirm that pension is long-term issue
The office of Gov. Chris Christie says recent actions by credit-rating agencies confirm his view that the cost of the state pension system is a long-term issue.
The state's credit rating has been downgraded nine times under Christie's watch.
In a statement issued Wednesday, the governor's administration said Fitch Ratings' recently revised outlook is recognition of Christie's management of state's finances.
The ratings agency changed its outlook from negative to stable this week, saying near-term budget risks have abated.
Moody's had assigned a negative outlook to some state bonds, saying the rating could go down if New Jersey makes a low pension payment in 2017, among other factors.
Gov. Christie has urged unions and Democrats to work with him on pensions.
The Associated Press wire services contributed to this report.