CHARLESTON — Gov. Patrick Morrisey praised an upgrade in West Virginia’s ratings outlook, but that same report included a warning about the state’s continuing loss of population, reliance on fossil fuel taxes and one-time monies.

S&P Global Ratings, an international credit rating agency, released a report Tuesday and reaffirmed West Virginia’s long-term general obligation bond debt as AA- while revising the state’s outlook from “stable” to “positive.”

S&P also reaffirmed the state’s A+ long-term rating for appropriation debt and upgraded that outlook from stable to positive as well.

In a statement Tuesday afternoon, Morrisey credited S&P’s improved outlook for the state’s financial condition to changes put in place by the West Virginia Department of Revenue in how the state crafts its g

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