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Minnesota bond rating downgraded over budget woes

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

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.

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