Moody's downgrades Minnesota's credit rating

Grants | Legacy Digitization |
June 17, 2003
Jim Bickal - Reporter
Listen: 4215783
0:00

The state of Minnesota may have to pay a higher interest rate when it needs to borrow money. That's because the state's credit rating has been downgraded from triple-A to double A-1 by one of Wall Street's three bond houses. Moody's Investors Services announced the change yesterday saying Minnesota leaders relied too heavily on accounting shifts and nonrecurring revenue to overcome a projected 4.2 billion dollar deficit. Minnesota achieved the top rating under Governor Arne Carlson... and he joins us now.

Send an inquiry regarding this content
Funders

Digitization made possible by the State of Minnesota Legacy Amendment’s Arts and Cultural Heritage Fund, approved by voters in 2008.

This Story Appears in the Following Collections

Views and opinions expressed in the content do not represent the opinions of APMG. APMG is not responsible for objectionable content and language represented on the site. Please use the "Contact Us" button if you'd like to report a piece of content. Thank you.

Transcriptions provided are machine generated, and while APMG makes the best effort for accuracy, mistakes will happen. Please excuse these errors and use the "Contact Us" button if you'd like to report an error. Thank you.

< path d="M23.5-64c0 0.1 0 0.1 0 0.2 -0.1 0.1-0.1 0.1-0.2 0.1 -0.1 0.1-0.1 0.3-0.1 0.4 -0.2 0.1 0 0.2 0 0.3 0 0 0 0.1 0 0.2 0 0.1 0 0.3 0.1 0.4 0.1 0.2 0.3 0.4 0.4 0.5 0.2 0.1 0.4 0.6 0.6 0.6 0.2 0 0.4-0.1 0.5-0.1 0.2 0 0.4 0 0.6-0.1 0.2-0.1 0.1-0.3 0.3-0.5 0.1-0.1 0.3 0 0.4-0.1 0.2-0.1 0.3-0.3 0.4-0.5 0-0.1 0-0.1 0-0.2 0-0.1 0.1-0.2 0.1-0.3 0-0.1-0.1-0.1-0.1-0.2 0-0.1 0-0.2 0-0.3 0-0.2 0-0.4-0.1-0.5 -0.4-0.7-1.2-0.9-2-0.8 -0.2 0-0.3 0.1-0.4 0.2 -0.2 0.1-0.1 0.2-0.3 0.2 -0.1 0-0.2 0.1-0.2 0.2C23.5-64 23.5-64.1 23.5-64 23.5-64 23.5-64 23.5-64"/>