Moody's revises 2014 outlook for U.S. local governments to stable

Wed Dec 4, 2013 10:49am EST

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Dec 4 (Reuters) - Moody's Investors Service said on Wednesday it revised its 2014 outlook for U.S. local governments to stable from negative. The outlook has been negative since 2009.

The stable outlook means credit risks are now more visible and predictable, the rating agency said in a statement. It also means most local governments have lowered cost structures and expectations to cope with constrained resources.

"It means conditions are not getting worse, but neither are they returning to pre-2008 conditions," Moody's said.

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