The latest on California politics and government
June 25, 2014
Moody’s Investors Service, one of the nation’s largest credit rating organizations, upgraded its rating of California’s $86 billion in general obligation debt Wednesday, citing the state’s “rapidly improving financial position.”
The upgrade from A1 to Aa3 came just a few days after Gov. Jerry Brown signed a 2014-15 state budget whose revenues and outgo are balanced and includes a “rainy-day fund” that will, if approved by voters in November, absorb some excess revenues.
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