Fitch revises long-term credit outlook downward from stable to negative.
15 Dec 2008
You can read part of the story in Rating agency lowers Ohio’s long-term credit outlook which states in part:
Ohio’s worsening economic woes prompted one of Wall Street’s three large credit-rating agencies Monday to revise the state’s long-term credit outlook downward from stable to negative.
However, Fitch, for now, has maintained the state’s credit rating at a strong AA-plus for any state long-term borrowing backed by state tax and general revenue, a nod, it said, was due to the state’s fiscal restraint in the face of a decidedly ugly economic picture.
If you want even more details on the decision by Fitch, I recommend this piece in Forbes.
That’s not the only problem going to haunt us in the near future. We already dumped a ton of cash into the fanny-freddie fiasco. Next is the ARM mortgages that will be seeing their interest rates making their “after 3 jump” to reality.
December 15th, 2008 at 5:05 pmThe experts are saying that about 2 trillion will be needed to save that one.
Well DUH!!! How much does this job pay? Because I am way over qualified.
Ridiculous.
December 15th, 2008 at 10:19 pm