Credit-rating agency raises concerns about state finances

cashMoody’s Investors Service is raising concerns about Kansas’ ability to pay its debts. The credit-rating agency considers the Kansas Supreme Court’s decision in the school-finance case a “credit negative” because “the mandated increase will pressure state finances that are already stressed by revenue losses from income tax cuts.” A spokeswoman for Gov. Sam Brownback downplayed the Moody’s report, noting that Kansas still has a strong bond rating. But John Robb, a Newton attorney who represents the plaintiffs in the school-funding case, said there is reason to worry about state finances. “The grand experiment better ramp up in the next three years, or we’re going to have a train wreck,” he said. “Moody’s appears to recognize that.”