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Article: ANOTHER BOND RATING IS LOWERED.(LOCAL/STATE)
- Article from:
- The Capital Times
- Article date:
- September 5, 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: Sarah Wyatt Associated Press
A third firm lowered Wisconsin's bond rating Tuesday amid doubts over the state's financial outlook, despite vetoes that Gov. Scott McCallum said should send a positive message to bond agencies.
Fitch IBCA said it downgraded Wisconsin's rating from AA+ -- its second highest rating -- to AA.
Investors use credit ratings as indications of the likelihood that they will get their money back according to the terms on which they invested. Fitch has rated Wisconsin AA+ since June 1995.
Last week, Moody's Investor Service downgraded the state's bond rating from Aa2, the firm's third-highest rating, to Aa3.
Standard & Poor's ...