California downgraded by ratings company
Posted by seumasach on February 4, 2009
4th February, 2009
California has had its credit rating reduced by Standard and Poors.
While most states are rated AA or AAA, the Golden State, with the worst credit risk of all 50 states, will simply be rated A.
Standard & Poor’s cut California’s rating due to an impasse between the state Legislature and Governor Arnold Schwarzenegger over how to close a budget gap of $42 billion
In These New Times 
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