Oklahoma's drop in bond ratings may increase the state's borrowing costs for several major projects.
The Oklahoman reports credit rating services agency Fitch Ratings announced Tuesday that it's lowering Oklahoma's issuer default rating from AA+ to AA.
In its report the agency says economic and political factors contributed to the downgrade.
The state's projects that may be affected by the change include the American Indian Cultural Center in Oklahoma City, the Oklahoma Museum of Popular Culture in Tulsa, some higher education construction projects and a new state Health Department lab.
State Treasurer Ken Miller says the downgrade isn't surprising. He says he and other state leaders cautioned before the last legislative session that a downgrade could be possible if the Legislature didn't address the structural imbalance in the state's revenue sources.