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Article: STATE'S BOND RATING DROPS; BUDGET BLAMED.(LOCAL/STATE)
- Article from:
- The Capital Times
- Article date:
- August 29, 2001
CopyrightCOPYRIGHT 2001 Capital Newspapers. 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: Associated Press
Two bond rating firms are expressing concern over Wisconsin's fiscal picture, one by downgrading the state's financial status and the other by giving its rating a negative outlook.
Moody's Investor Service on Tuesday downgraded the state's bond rating from Aa2, the firm's third-highest rating, to Aa3. Also Tuesday, Standard & Poor's applied the negative outlook to its rating for the state.
Both moves mean it could cost Wisconsin more money to pay off the bonds it issues to finance various projects.
The firms said the state's economy was still strong, though there was cause for concern.
"One more hiccup in the economy could be a ...