Fitch Ratings said it downgraded to AA-minus from AA San Rafael, Calif.'s $7.4 million Joint Powers Authority lease revenue refunding bonds series 2012; $5,000 Joint Powers Authority lease revenue bonds series 2003; and the city's implied general obligation bond rating to AA from AA-plus.
San Rafael JPA Revs Cut to AA-Minus by Fitch
DEC 11, 2012 2:25pm 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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