OLYMPIA, Wash. - Two credit rating agencies have delivered a warning to the State of Washington to get its financial house in order. The ratings agencies lowered the outlook for Washington state debt, citing the magnitude of the budget shortfall. Correspondent Tom Banse reports.
Washington state is refinancing or selling more than $1 billion in bonds in the coming weeks. That's the reason Standard & Poor's (S&P), Moody's Investors Service, and Fitch Ratings revisited the state's credit rating.
