Lost in the uproar about the U.S. debt-ceiling battle and the ensuing downgrade by Standard and Poor’s, Michigan received good news from Fitch Ratings, which revised the State of Michigan’s bond outlook to “Positive” from “Stable,” citing “prudent budgeting and efforts to grow reserve levels in the context of an economy beginning to slowly rebound.

Gov. Rick Snyder, R-Mich., released a statement on the Fitch announcement on July 27th:

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