2014, only Illinois had a lower rating among US states. On May 2, 2014, Fitch Ratings, one of the major Wall Street credit-rating agencies, downgraded New Jersey's credit-rating for both the "scale and belatedness" of New Jersey $807 million budget gap, following a similar downgrade by Standard & Poor's in April. On May 13, 2014, Moody's Investors Service downgraded New Jersey credit. As of May 2014, the state's credit rating had been dropped twice by Fitch Ratings, twice by Standard & Poors and twice by Moody's Investors Service. The credit rating agencies performed the downgrades based on the overestimation of revenue collection by the Christie administration, and on relying on short-term measures rather than implementing taxation or spending changes that would have an impact in limiting budgets. On September 5, 2014, Fitch Ratings again lowered their rating on the state's debt, from A+ to A. stating: "Following significant revenue underperformance, the state relied upon the repudiation of its statutory contribution requirements to the pension systems to return to budgetary balance, exacerbating a key credit weakness" Some days later, citing unbalanced budget and under-funded pensions, Standard and Poor's also cut the state's rating. In November 2016, the state saw its 10th credit downgrade under Christie, with a Standard and Poors rating moving from A to A− (stable to negative). In 2017, Moody's downgraded New Jersey's credit rating for the fourth time during Christie's governorship. Affordable Care Act marketing money New Jersey lost a $7.6 million grant from the federal government to promote the health insurance exchange under the Affordable Care Act (Obamacare) in February 2014. The federal government rejected a proposal from New Jersey's insurance commissioner to use the funds to support Medicaid enrollment, rather than insurance enrollment through the new, subsidized federal marketplace "exchange". Despite this, as of March 2014, the number of people without health insurance in New Jersey had fallen to its lowest level since 1990. A report by the Robert Wood Johnson Foundation and the Rutgers Center for State Health Policy (studying Medicaid, private direct, and exchange enrollments, as part of the Urban Institute's national monitoring project) estimated that 430,000 people in New Jersey gained coverage from October 2013 through early March 2014 (before the last-minute sign-ups). "There was a lot less investment in outreach and public education in New Jersey than in other places, like New York," according to Rutgers Center director Joel Cantor (an author