FRANKFORT, KY (AP) – Gov. Andy Beshear is pointing to another sign of Kentucky’s economic recovery from the pandemic.
A credit rating agency upgraded its assessment of the state’s financial outlook. Beshear said Wednesday that the upgrade shows the state is “poised to sprint out” of the pandemic. It’s a dramatic turnaround from a year ago, when coronavirus-related shutdowns had the state bracing for a prolonged downturn.
Infusions of federal aid helped prop up the economy, and the state’s revenue collections ended up being more resilient than expected. Republicans say an even stronger economic rebound has been held back by the Democratic governor’s virus-related restrictions.