During his tenure, Christie has seen the state's credit rating dropped twice by Fitch Ratings, twice by Standard & Poors and once by Moody's Investor Service. Currently, both Fitch and Moody's maintain negative outlooks, which could signal further downgrades are on the way. An $807 million revenue shortfall for the current fiscal year that ends June 30 has the ratings agencies concerned over how the hole will be plugged. In its latest report on the state's rating, Moody's called the hole "credit negative," saying the hole could be plugged with one shot revenues. "Options will include structural cuts to operations, one-time cuts to large year-end expenditures, use of fund balance, and other one-time solutions," Moody's analyst Baye Larsen wrote in a May 1 comment. "Given that the state has relied on one-time solutions to solve mid-year gaps in the current year and past several years, it is highly likely that one-time measures will be part of this solution."