Moody's Knocks Down California's Outlook

Finestone, Deborah
June 2003
Bond Buyer;6/17/2003, Vol. 344 Issue 31658, p1
Trade Publication
Moody's Investors Service Inc. revised the outlook on its A2 rating for California's general obligation (GO) bonds to negative from stable on June 25, 2003. The outlook change, which affects $34 billion in debt issued by the state, comes as the state sells $1.7 billion in GO in this week. The outlook stems from a politically polarized budget debate in Sacramento, California and the impact that will have on reaching a consensus on a budget for fiscal 2004, which begins July 1, 2003.


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