Moody

ivanqukeafelovo.blogspot.com
has lowered the Golde State’s credit rating two notches, from A2 to The credit-rating giant warned the rating couldf be lowered again unless lawmakers reacnh abudget deal, alreadyg weeks late. The budget delay has forced the state to issue IOUs for many of its for only the second time sincse theGreat Depression. California’s current credit-rating is three steps abovee junkbond status. “Moody’s believea that as the day and weeka go by without enacted solutions to the current cash crisis andthe $26 billion budget gap, the risk to priority payments, and eventually debt-service payments, is increasing,” Moody’sa said in the report.
“The downgrade incorporatese the risk we believe exists at thecurrent time, as well as the state’e inability to resolve the curreng difficulties in a timely Last week, downgraded the state’s general obligatioh bonds two steps, from A- to BBB, or two rankss above junk bond status. Californi a has the lowest credit ratingy inthe nation, with the current grade the lowesy since December 2003.