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S&P raises New Hampshire outlook to stable from negative
December 8, 2014 / 6:03 PM / 3 years ago

S&P raises New Hampshire outlook to stable from negative

Dec 8 (Reuters) - Standard & Poor’s ratings services upgraded its outlook on New Hampshire to stable from negative, citing reduced financial risk to the state after a settlement with most of the hospitals in a lawsuit involving Medicaid-related taxes.

Standard & Poor’s also affirmed the ‘AA’ long-term rating on New Hampshire’s general obligation bonds.

Although the state faces a potential revenue loss due to lawsuits over the constitutionality of the Medicaid enhancement tax (MET), the hospitals have agreed not to seek refunds for previous tax payments, Standard & Poor’s said on Monday. (Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by Don Sebastian)

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