AUGUSTA, Maine — The state of Maine is ending the fiscal year with a $152 million surplus after an initial forecast of a downturn in revenue.

With the surplus, the state's "rainy day" fund surpasses $1 billion, according to a news release from Gov. Janet Mills' office.

Fitch Ratings , a top international credit rating agency, upgraded Maine's bond rating to a A++. This is the second highest rating the agency issues.

Maine State Treasurer Joe Perry and other state officials celebrated the rating.

"This ratings upgrade from Fitch affirms that we are on a good path," Perry said in a statement.

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