California Credit Rating Lowered Again as Budget Talks Progress

July 15 (Bloomberg) -- California’s credit rating, the lowest among U.S. states, was cut for the second time in as many weeks as lawmakers and Governor Arnold Schwarzenegger met behind closed doors to resolve a ballooning budget deficit that left the state paying bills with IOUs.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aWZVPoCgfaG0