OTHER NEWS - Nov. 5, 1991
From Times Staff and Wire Reports
S&P; May Reconsider State’s Bond Rating: Standard & Poor’s Corp. issued a warning to California: Get your state budget in shape or face extra costs when you next ask for a loan. An analyst with S&P; said the state’s weak first-quarter results may force S&P; to reconsider California’s triple-A bond rating unless swift action is taken to offset worsening conditions. “Because of the negative outlook for the state, Standard & Poor’s has decided to raise a red flag now because any revenue-raising techniques take time and a continued imbalanced budget cannot receive a triple-A rating,” S&P; said.
