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Moody's, Seeing Default Risk, to Review Ratings on Calif. Cities

Moody's plans to review its debt ratings of California cities over the next few weeks and said it believes the risk of default on municipal bonds in the state is rising.


S&P issues warning on California finances

The ratings agency Standard & Poor's warned on Tuesday that it could downgrade California's financial outlook if lawmakers don't pass a credible budget plan this year.


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