S&P

Credit ratings
4:36 pm
Mon August 8, 2011

Update: Gregoire warns of more cuts to come; credit rating stable

Governor Chris Gregoire is telling state agencies to prepare for further budget cuts because of the faltering economy. Her budget office today asked agencies for ideas to reduce planned spending by 5 or 10 percent. 

Meanwhile, the Standard & Poor's downgrade of federal debt is unlikely to have much near term effect on the borrowing costs for the state. Although, S&P did deal the city of Tacoma a blow by downgrading it's credit rating on debt backed by the federal government.

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