Michigan governor tells credit rating agencies state doing 'very well'NEW YORK (Reuters) - Michigan Governor Rick Snyder has met with Wall Street credit rating agencies this week, telling them Michigan’s economy is doing “very well” in the face of a lowered credit outlook, Snyder said on Thursday.  “We had a good, healthy discussion,” Snyder told Reuters after speaking at a CUNY Graduate School of Journalism event in New York City. “Michigan economically is doing very well.” Two weeks ago, just before Michigan’s most recent bond offering, Standard & Poor’s Ratings Services lowered the outlook on Michigan’s credit rating to stable from positive. It cited burgeoning costs associated with a lead-tainted water crisis in the city of Flint and with the cash-strapped Detroit Public Schools (DPS).  Those rising expenses “will limit the state’s ability to build reserves over the nest two fiscal years,” S&P analyst Carol Spain said on March 17. Despite the outlook change, Michigan was able to sell about $82 billion of general obligation bonds with a true interest cost of 1.54 percent, showing little sign that the U.S. municipal bond market wanted to punish the state with exorbitantly high interest rates. One encouraging economic sign in Michigan is the 4.8 percent unemployment rate reported in February versus the national jobless rate of 4.9 percent. Snyder said it was a good time to meet with credit rating agencies because the state is not currently in the market. He tries to do it at least once a year.  politicsNews
michigan governor tells credit rating agencies state york reuters michigan governor rick snyder met wall street credit rating agencies week telling michigan economy well face lowered credit outlook snyder said thursday we good healthy discussion snyder told reuters speaking can graduate school journalism event new york city michigan economically two weeks ago michigan recent bond offering standard poor ratings services lowered outlook michigan credit rating stable positive it cited burgeoning costs associated water crisis city flint detroit public schools dps those rising expenses limit state ability build reserves nest two fiscal years s p analyst carol spain said march despite outlook change michigan able sell billion general obligation bonds true interest cost percent showing little sign municipal bond market wanted punish state exorbitantly high interest rates one encouraging economic sign michigan percent unemployment rate reported february versus national nobles rate percent snyder said good time meet credit rating agencies state currently market he tries least year politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Michigan governor tells credit rating agencies state doing 'very well'NEW YORK (Reuters) - Michigan Governor Rick Snyder has met with Wall Street credit rating agencies this week, telling them Michigan’s economy is doing “very well” in the face of a lowered credit outlook, Snyder said on Thursday.  “We had a good, healthy discussion,” Snyder told Reuters after speaking at a CUNY Graduate School of Journalism event in New York City. “Michigan economically is doing very well.” Two weeks ago, just before Michigan’s most recent bond offering, Standard & Poor’s Ratings Services lowered the outlook on Michigan’s credit rating to stable from positive. It cited burgeoning costs associated with a lead-tainted water crisis in the city of Flint and with the cash-strapped Detroit Public Schools (DPS).  Those rising expenses “will limit the state’s ability to build reserves over the nest two fiscal years,” S&P analyst Carol Spain said on March 17. Despite the outlook change, Michigan was able to sell about $82 billion of general obligation bonds with a true interest cost of 1.54 percent, showing little sign that the U.S. municipal bond market wanted to punish the state with exorbitantly high interest rates. One encouraging economic sign in Michigan is the 4.8 percent unemployment rate reported in February versus the national jobless rate of 4.9 percent. Snyder said it was a good time to meet with credit rating agencies because the state is not currently in the market. He tries to do it at least once a year.  politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: michigan governor tells credit rating agencies state york reuters michigan governor rick snyder met wall street credit rating agencies week telling michigan economy well face lowered credit outlook snyder said thursday we good healthy discussion snyder told reuters speaking can graduate school journalism event new york city michigan economically two weeks ago michigan recent bond offering standard poor ratings services lowered outlook michigan credit rating stable positive it cited burgeoning costs associated water crisis city flint detroit public schools dps those rising expenses limit state ability build reserves nest two fiscal years s p analyst carol spain said march despite outlook change michigan able sell billion general obligation bonds true interest cost percent showing little sign municipal bond market wanted punish state exorbitantly high interest rates one encouraging economic sign michigan percent unemployment rate reported february versus national nobles rate percent snyder said good time meet credit rating agencies state currently market he tries least year politicsnews