bond rating

California inched closer to junk bond status with downgrades from Moody's and Fitch. Even so, key leaders of California couldn't even resume talks to find a solution to the state's $26.3 billion deficit. State treasurer Bill Lockyer continues to warn of dire consequences to the state's ability to...

The state of California must pass a budget by tomorrow or its credit rating could tumble to junk status. Both Moody's and Standard & Poor's have warned the state of a multinotch downgrade if the state fails to approve a budget. California currently has an A2 rating, the lowest of any state....