Mark Dayton and Majority Leader Kurt Zellers: We're screwed, let's shake on it.Standard & Poor's is the third of the big three credit ratings agencies to knock down Minnesota's score. In the last three month, the "big three" have been taking big chunks out of Minnesota's financial reputation ... More >>
Wikipedia Thanks, a lot guys -- now our credit's screwed.To get a state budget passed, Minnesota used a bit of tricky accounting -- a lot of borrowing here, a lot of delayed payments there -- to make the numbers work on paper. The tricks didn't fool Moody's Investor Service, the premiere credit r ... More >>
Minnesota's excellent credit rating got knocked off its feet yesterday by Fitch Ratings, thanks to the government shut down. We've gone from a triple-A rating to double-A plus.
The upshot is that the state will have to pay higher interest rates when it borrows money.
But before everyone sta ... More >>