Fitch Ratings downgraded to A from A-plus $7.2 million of Lomita, Calif.'s water revenue bonds Thursday and gave the debt a negative outlook.
Lomita, Calif. Gets Downgrade, Negative Outlook
JAN 31, 2013 4:32pm 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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