TRENTON — The Standard & Poor's financial ratings agency has lowered its outlook on New Jersey bonds to negative.

The agency made the change today based on what it called the state's continuing structural budget imbalance and optimistic revenue projections for the fiscal year that began July 1.

Latest Video

The state's outlook had been stable.

S&P affirmed its ratings on New Jersey's general obligation bonds and other debt, but warned that a future ratings downgrade is possible.

The agency also assigned a negative outlook to nearly $400 million in outstanding school facilities construction bonds and notes but assigned the debt an 'A+' rating.

Democrats in the Assembly are hoping to get a clearer picture of the state's fiscal year-end fiscal balances from the Christie administration at a hearing on Wednesday.

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.