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August 04, 2014 03:37 PM

Standard & Poor's Gives SD Positive Outlook

pierre, sd

Standard & Poor's Ratings Services has changed its outlook on South Dakota's credit rating for the better.

Gov. Dennis Daugaard on Monday said the independent credit ratings firm revised its outlook from "stable" to "positive" on South Dakota's AA+ rating.

S&P cites the state's fully-funded pension program among the reasons for the outlook's improvement.

The agency says it could raise South Dakota's rating if the state continues to show "prudent fiscal management" over the next two years as it implements new rules to "meaningfully influence continued stability."

South Dakota earned its AA+ rating in 2011.

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