TITLE

Moody's Gets Negative on Minnesota, Citing Fiscal Weakness

AUTHOR(S)
Shields, Yvette
PUB. DATE
February 2010
SOURCE
Bond Buyer;2/10/2010, Vol. 371 Issue 33264, p5
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the negative outlook of the rating agency Moody's Investors Service Inc. to the financial stability of Minnesota. It mentions the shift from Aa1 rating of the state to negative due to the 1.2-billion-dollar deficit and 57-billion-dollar budget that runs through June 30, 2011 that are in process to the U.S. Senate. It cites the fiscal weakness of the state due to reserves depletion, bill payment delays, fund transfers, and limitation to its options.
ACCESSION #
48274562

Tags: MOODY'S Investors Service Inc.;  CREDIT ratings;  RESERVES (Accounting);  BUDGET deficits -- United States;  UNITED States. Congress. Senate;  OPTIONS (Finance)

 

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