According to a new Fitch Ratings report, at the close of the first quarter of 2015, U.S. public finance finds itself solidly positioned on revenues, economic growth and spending pressures.

“For states, budget challenges are manageable in an environment of continued economic and revenue growth. Risks related to the federal government are now longer term,” said Laura Porter, managing director.

Fitch said, on the local side, core fundamentals remain strong as property tax trends stabilize and spending remains under control.

Key risks for public finance for the remainder of 2015 include: strength of economic recovery, post-employment benefit costs, uncertain status of healthcare reform and reimbursement changes on hospitals, potential environmental regulation changes on utilities over the medium term and affordability and demand pressures for higher education.

To view the full Fitch Ratings report, click here.