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Article: STATE BOND RATING STUCK AT LOW LEVEL.(CAPITAL REGION)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- July 31, 1996
CopyrightCOPYRIGHT 1996 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: SARAH METZGAR Capitol bureau
ALBANY -- Wall Street analysts have refused to upgrade New York's abysmal bond rating, disagreeing with the politicians' positive rhetoric about the latest-ever state budget.
``The major concerns have not been addressed,'' said Richard Marino, a director at Standard & Poor's. The firm released the state's bond rating on Tuesday, opting to keep New York at the low A-minus level it's had since 1992.
That's the lowest Standard & Poor's rating for a state, and New York shares that dubious distinction with Louisiana.
``The budget was delayed significantly; it still remains structurally imbalanced, and ...