New Jersey Outlook Boosted by Moody’s as Murphy Manages Debt

New Jersey’s long-term credit outlook was boosted to positive from stable by Moody’s Investors Service, a sign that Governor Phil Murphy’s financial plans are spurring confidence.

The state’s general-obligation rating was affirmed by Moody’s at A2, the sixth-highest investment grade. The outlook revision comes as New Jersey’s strong tax collections help lead to full pension payments and the retirement of some debt, according to a statement on Friday.

Murphy, a 65-year-old Democrat and retired Goldman Sachs Group Inc. senior director, for years has sought to improve the state’s finances. In June, six months into his second term, ...