California’s Credit Rating Outlook Is Raised to Positive by S&P
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California’s credit, saddled with a negative outlook as recently as eight months ago, has been raised to positive and is poised for a higher rating, Standard & Poor’s said.
The second revision since July comes as the most-populous state prepares to sell $2 billion in general-obligation bonds. California’s A- rating, S&P’s fourth-lowest investment grade and the lowest of any state, was affirmed on $73.4 billion of general-obligation debt.