Christie's office: Actions by credit agencies confirm view that pension is a long-term issue

Industries Associated Press

The office of New Jersey Gov. Chris Christie says recent actions by credit-rating agencies confirm his view that the cost of the state pension system is a long-term issue.

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The state's credit rating has been downgraded nine times under Christie's watch.

In a statement issued Wednesday, Christie's administration said Fitch Ratings' recently revised outlook is recognition of Christie's management of state's finances.

The ratings agency changed its outlook from negative to stable this week, saying near-term budget risks have abated.

Moody's had assigned a negative outlook to some state bonds, saying the rating could go down if New Jersey makes a low pension payment in 2017, among other factors.

The Republican presidential contender has urged unions and Democrats to work with him on pensions.