Moody's finds outlook on R.I.'s credit 'negative'
12:46 PM Mon, Dec 01, 2008 | Permalink
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Moody's Investors Service today released a detailed analysis of Rhode Island's credit outlook for the near and short term. While the treasurer's office released updated credit ratings from Moody's and other credit rating agencies last week, today's analysis offers an independent view of the state's fiscal condition -- specifically the continued budget deficits that threaten the state's credit rating. Moody's found that, "Recurring budget gaps and the state's history of relying on one-time budget solutions raise concern regarding the state's cash margins, which are already slim, and the likelihood of achieving structural budget balance in the near term." As a result, Moody's said, "As a result, the outlook on the state's credit is negative." 
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Well, here's another fine mess Governor Befuddled's got us into! Will he just PLEASE go away for the remaining two years of his term and have mercy on RI's economy. Gov. Befuddled is doing to RI what Hurricane Katrina did to Louisiana and Mississippi --- and it isn't pretty!
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