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California's Budget Choices Have Ratings Implications, Report Says Jun 11
Standard & Poors, June 2011
Abstract
SAN FRANCISCO (Standard & Poor's) June 21, 2011--Standard & Poor's Ratings Services sees California's credit rating (A-/Negative) at a crossroad as fiscal 2012 approaches. The choices and related rating implications are explained in a new report, 'California Credit Quality And Ratings Are At A Crossroad' published today on RatingsDirect on the Global Credit Portal. 'We believe California's near-term credit quality is affected by its budget situation more than most states because of the implications for the state's cash position,' said Standard & Poor's credit analyst Gabriel Petek. 'In our view, the budget process is significant in California's credit profile because if a budget is not adopted in time for the state to issue its revenue anticipation notes before its cash...
Companies mentioned in this report are: California
Action: General Comment
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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