Louisiana is no longer tied as the worst credit risk of all the states, according to the Los Angeles Times. Standard & Poor’s cut California’s rating to “A” from “A+”, because of a $42 billion budget gap. That leaves Louisiana as the only “A+” rated state; most states have ratings of “AA” or “AAA”, indicating very low or almost zero credit risk. Louisiana and California are tied at the bottom of Moody’s credit ratings, but the investor service said last month it could cut the Golden State’s rating if a budget impasse between Gov. Arnold Schwarzenegger and the legislature continues.
California’s loss, Louisiana’s gain
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