An uneven revenue recovery, reduced spending flexibility, labor and pension pressures, and questionable willingness to pay, will likely result in a continued above-average rate of local government downgrades in 2013, according to Fitch Ratings.
Fitch: Above-Average Local Government Downgrades Expected
DEC 3, 2012 12:28pm ET
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Land isn't the only thing drying up in California, as the drought's economic impacts are dangerously closing in on the state's financial resources.
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