| Sep 25, 2013
| 8:59 AM
Burbank fared poorly in a report evaluating the financial health of cities in Los Angeles County, but city officials said this week the rankings were an inaccurate representation of the city's fiscal situation.
The report — put together by a civil...
| Sep 25, 2013
As part of the stopgap spending bill that would "defund Obamacare," House Republicans have proposed a temporary exemption to the debt limit, ostensibly to prevent the government from defaulting on Treasury securities. But the exemption would protect...
| Sep 24, 2013
| 1:03 PM
WASHINGTON -- A federal government shutdown or a failure to raise the debt limit -- both of which could happen next month -- would disrupt financial markets and hurt the U.S. economy, Moody's Investor Services warned Tuesday.
A stalemate over increasing...
| Sep 6, 2013
| 9:29 PM
Everybody wants to see the perpetrators of the financial crisis punished, but you have to feel a little sorry for Standard & Poor's, the credit rating firm being sued by the federal government for its role in the disaster.
S&P clearly has its back to...
| Aug 27, 2013
| 11:37 AM
Illinois Treasurer Dan Rutherford delivered a somber message about the state's financial outlook during an impromptu meeting with Orland Park officials last week.
Rutherford warned that unless state lawmakers quickly come to an agreement about the...
| Jul 19, 2013
| 6:54 AM
WASHINGTON -- The shrinking budget deficit and improving economy has led Moody's Investor Services to affirm the nation's AAA credit rating and upgrade the outlook for government debt to stable from a negative watch that could have led to a downgrade....
| Jun 17, 2013
| 2:29 PM
Credit rating house Standard & Poor has assigned Anne Arundel County's bonds a AAA rating and upgraded its assessment of the county's fiscal outlook from "negative" to "stable," officials announced Monday.
Moody's, another credit rating house, gave...
| Jun 15, 2013
| 1:15 PM
The Maryland Economic Development Corp. expects to fall short next year on payments to investors who bought the bonds that funded the Hyatt Regency Chesapeake Bay, a state-owned golf resort hotel and conference center on the Eastern Shore.
| Jun 10, 2013
| 9:58 AM
WASHINGTON -- Standard & Poor's, which downgraded the U.S. credit rating nearly two years ago, said Monday it was more optimistic about the nation's long-term fiscal situation and had removed the negative outlook from the rating.
The automatic federal...
| Jun 6, 2013
| 2:23 PM
Gov. Pat Quinn today called lawmakers back into special session June 19 to deal with the public employee pension shortfall after another rating agency downgraded Illinois' credit rating.
Given the wide philosophical divides between the House and Senate,...
| Jun 3, 2013
| 1:48 PM
SPRINGFIELD --- A major investor ratings service further lowered Illinois' worst-in-the-nation credit rating today following lawmakers' inability to agree on money-saving reforms to the public employee pension system.
Fitch Ratings dropped Illinois...