Sections

Weather Forecast

Close
Advertisement

Minnesota bond rating downgraded over budget woes

Email Sign up for Breaking News Alerts
News Willmar,Minnesota 56201 http://www.wctrib.com/sites/all/themes/wctrib_theme/images/social_default_image.png
West Central Tribune
(320) 235-6769 customer support
Minnesota bond rating downgraded over budget woes
Willmar Minnesota 2208 Trott Ave. SW / P.O. Box 839 56201

ST. PAUL -- Minnesota is seeing its credit rating slip over budget problems that have led to the state's week-old government shutdown.

Advertisement
Advertisement

The state finance agency, Minnesota Management and Budget, said Thursday that Fitch Rating downgraded the state's bond rating a notch from AAA to AA+ because the state hasn't addressed a structural deficit.

Management and Budget Commissioner Jim Schowalter says the state is slipping after years of temporary budget fixes.

He says the downgrade will increase the state's borrowing costs and could make credit more expensive for cities, counties and schools.

---

Look for more information in Friday's West Central Tribune.

Advertisement
news@wctrib.com
Advertisement
Advertisement