Despite having one of the weakest economies in the nation, Michigan’s near-term fiscal position is expected to remain solid while it may face additional economic problems over the long term, analysts at Standard &Poor’s said in a recent report on the state’s financial situation.

In affirming the AA-minus general obligation rating and stable outlook, analysts noted that Michigan’s economic base is diversifying and that the state enjoys low debt and pension burdens. In addition, state leaders have shown strong budget management, including conservative revenue estimates, that will prove important to managing economic shortfalls, according to analyst James Wiemken.

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